British Virgin Islands Financial Services Commission Board Appoints An Additional External Commissioner

Tortola, British Virgin Islands – 12 June, 2012 – The British Virgin Islands Financial Services Commission (FSC) has today announced the appointment of Mr. James Wadham as an additional External Commissioner to its Board of Commissioners.  The appointment, which took effect from 6 February, 2012 for a period of two and a half years, was recently confirmed by Chairman of the Board, Robin Gaul, at an event to celebrate the 10th anniversary of the FSC’s Board of Commissioners held on 29 May.  Mr. Wadham’s appointment to the Board was approved by Cabinet pursuant to Section 5(2) of the Financial Services Commission Act, 2001 (as amended).

The addition of Mr. Wadham to the Board increases the number of FSC Commissioners to eight. 

The other Commissioners are Colin O’Neal (Deputy Chairman), E. Walwyn Brewley, Philip Fenty and Eleanor Smith, Martin Fuggle (External Commissioner) and Robert Mathavious (ex-officio).  

Commenting on Mr. Wadham’s appointment to the Board, Chairman Robin Gaul expressed, “Mr. Wadham brings to the Board of Commissioners a wealth of industry experience garnered from his extensive practice in key global markets, both established and emerging.  This will add diversity to and enrich the deliberations of the Board.  The other Commissioners and I look forward to leveraging this diversity of experience for the benefit of the BVI and its financial services industry."

Mr. Wadham’s career was spent primarily in the financial services industry, specifically in the areas of banking, trustee and corporate services and insurance.  He has advised several governments on a broad spectrum of legislative matters in the offshore financial services area and acts an executive director of a number of world-wide companies.

Mr. Wadham holds a Bachelor of Science (Hons) in Sociology from the University of Bath, England and is a graduate of the Inns of Court School of Law, London. England.  He was called to the both the Bar of England and Wales by The Honourable Society of the Inner Temple and was admitted to the Bar of Hong Kong in 1982.

The inaugural meeting of the FSC’s Board of Commissioners was held on 30 May, 2002 under the Chairmanship of Michael Riegels, QC. 

Mr. Riegels was replaced by Robin Gaul (who previously served as Deputy Chairman) as Chairman in April, 2006 and Martin Fuggle replaced Rodney Gallagher as External Commissioner in August, 2005.

Note to Editors:

1.         A photograph of New External Commissioner, James Wadham is attached.

About the British Virgin Islands Financial Services Commission

The BVI Financial Services Commission is an autonomous regulatory agency responsible for the regulation and supervision of financial services conducted in and from within the Territory. 

The Registry of Corporate Affairs is a division within the BVI Financial Services Commission that administers the BVI Business Companies Act.

For further information, please contact:

Corporate Communications

BVI Financial Services Commission

Pasea Estate, Tortola, British Virgin Islands

Tel:      (284) 494-4190

Fax:     (284) 494-5016

Email:  [email protected]