Opposition calls for appointment of FSC Appeals Tribunal

Opposition Spokesman on Finance and the Public Service, Julian Robinson, is calling for Minister of Finance and the Public Service, Fayval Williams, to appoint the Appeal Tribunal of the Financial Services Commission (FSC).

Robinson says this critical body, established under Section 19 of the Financial Services Commission Act, has been absent since the expiration of the last tribunal's tenure in August 2023.

The Act mandates that the Appeal Tribunal consist of three members appointed by the Minister; however, no replacements have been named, leaving appellants without any recourse for over a year, he points out.

“The Appeal Tribunal plays a pivotal role in ensuring accountability and transparency in the financial services sector. It provides a forum for individuals and entities aggrieved by FSC decisions to have their grievances heard and addressed. Its continued absence undermines confidence in the government's regulatory framework, as the mechanism itself is necessary for safeguarding the rights and interests of businesses operating within Jamaica's financial sector. The failure to appoint a new tribunal represents a glaring breakdown in the government's responsibilities to businesses and investors.”

The Opposition is, therefore, urging the finance minister to act decisively and without further delay to appoint members to the tribunal, fulfilling her responsibility under the law.

Robinson says continued inaction signals a dereliction of duty and contradicts the government's stated commitment to strengthen its regulatory responsibilities.

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