An Acting-Executive Director has been appointed to oversee the operations of the Financial Services Authority (FSA), in the interim.

Karen Duncan-Gonsalves, a Senior Crowns Counsel at the Office of the Attorney General, who is the wife of Minister of Finance, Camillio Gonsalves, was appointed to fill the post of Acting- Executive Director of the FSA on a temporary basis, after the former Executive Director, Mrs. Sharda Bollers demitted office on January 31, 2018, due to health related reasons.

Mrs. Gonsalves, who is a member of the Board of Directors of the FSA, will fill this post until someone is appointed to fill the post on a permanent basis.

Speaking on the Issues at Hand programme aired here on WEFM yesterday, Prime Minister Dr. Ralph Gonsalves said there were many applicants for the post of Executive Director, including from persons within the FSA, however a decision was taken to have one of the Board Members of the FSA, be appointed as temporary Acting- Executive Director.

The Prime Minister stressed that this is a temporary appointment, and said Mrs. Duncan-Gonsalves had not expressed any interest in being appointed to this post.

The Financial Services Authority regulates and supervises the international financial services sector and the non bank financial institutions in accordance with the various governing legislation and best international practices to ensure that these sectors are reputable and contribute to the economic and social development of St. Vincent and the Grenadines.

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