Friday, July 13, 2007

Former Attorney General of the BVI Appointed to the Senior Position in the BVI FSC

The BVI FSC has announced that the former Attorney General of the British Virgin Islands, Cherno Jallow, has agreed to take a senior management post in the Commission. He is appointed at the position of Director of Policy, Research and Statistics Division, whose duty will be to provide technical support, advice and overall support to the Commission. Mr. Jallow will also assist the Managing Director in the development and implementation of the Commission's strategies and objectives.

Cherno Jallow will provide assistance in formulating policies and legislation to balance the application of international regulatory standards with the development of BVI's Financial Services Sector. Mr Jallow will hold responsibility for the coordination and execution of the Commission's consultative mechanisms between public and private sectors, coordination of the Commission's AML/CFT programs and initiatives, and the Commission's response to international initiatives targeting the offshore financial centers and the BVI in particular. He will also provide advice to the government on behalf of the commission in the negotiation of Tax Information Exchange Agreements (TIEA) and other issues concerning financial services.

From 1999 to 2007 Cherno Jallow served as Attorney General of the BVI; in 1995-1999 he served as Parliamentary Counsel in the Attorney General's Chambers. The position of Director of Policy, Research and Statistics Division, to which he is appointed now, has been vacant since May 2006, when Mark McKenzie’s contract expired.

Commenting on his appointment, Mr. Jallow stated that, after working alongside the commission in his former capacity for a number of years, he is delighted to have the opportunity to leap the fence and make a full-time contribution to its work.

Robert Mathavious, CEO and managing director of BVI FSC, welcomed the appointment of Cherno Jallow, stating that “Over many years, Mr Jallow has been a tower of strength in dealing with the international challenges confronting the BVI’s financial services sector... Having Mr Jallow on our Senior Management team will be a real fillip to ensuring that the Commission is fully and professionally staffed to fulfill its statutory and regulatory mandates."

The responsibility of the BVI Financial Services Commission as an autonomous regulatory agency is regulating and supervising BVI financial services sector. In particular, the Commission's Division of Policy, Research and Statistics monitors international regulatory and legislative developments, makes financial industry statistics and researches industry related topics.

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