A former consultant to the Bermuda Monetary Authority has been appointed External Commissioner of The British Virgin Islands Financial Services Commission.

Martin John Fuggle, OBE, who was appointed to a three-year term with the FSC, spent the past five years as Chairman, Commissioner and Chief Executive of the Gibraltar Financial Services Commission. Mr. Fuggle began his career at the Bank of England where he rose to the post of senior manager, supervision and surveillance.

He spent two years as a consultant for the Bermuda Monetary Authority, leading a comprehensive review of Bermuda?s financial/supervisory legislation and the associated supervisory system.

Commenting on the appointment, Mr. Robert Mathavious, the FSC?s Managing Director, said: ?We are very pleased to have someone with Mr. Fuggle?s credentials serving as a Commissioner. His experience and expertise across a wide range of regulatory issues in the financial services arena will be extremely valuable for the FSC as we face more complex issues working with partners inside and outside of the BVI.?