February 8, 2013

Cabinet appoints FSA Appeal Tribunal

A Financial Services Authority Appeal Tribunal has been appointed by Cabinet, effective January 31, 2013.{{more}}

The Tribunal was set up in accordance with the Financial Services Authority Act 2011 to hear the appeals of financial entities who are aggrieved by any action taken by the Financial Services Authority (FSA).

Aggrieved parties have thirty days after receipt of written notification of the decision of the FSA to appeal to the Tribunal.

Chairman of the Tribunal is Attorney General Judith Jones-Morgan. Other members of the Tribunal are Accountant General Ingrid Fitzpatrick, Director of Planning Laura Anthony Browne, President of the Chamber of Industry and Commerce Andrew Woodroffe and lawyer Jaundy Martin.

The appointment of the members was gazetted on February 5.

For each appeal, the Chairperson and two other members assigned by the Minister will sit on the Tribunal.

According to the Financial Services Authority Act 2011, the Chairperson of the Tribunal shall be a person qualified in law of not less than seven years. The four other members should have experience of and shown capacity in, matters relating to industry, finance, economics, accountancy, commerce or law.