Monetary Council Appoints New Commissioners

The Monetary Council at its 59th Meeting held on 21 July 2007, appointed three persons to serve as Commissioners to the Eastern Caribbean Securities Regulatory Commission (ECSRC). These Commissioners replace Mr Dunbar McIntyre of Grenada, the outgoing Chairman, and Mr Charles Brisbane of St Kitts-Nevis whose terms of service ended on 18 October 2007. Mr Calvin Rodgers was re-appointed to serve a third term with the Commission. The appointments are effective 19 October 2007.

The following are the new appointments who, with Mr Crispin Sorhaindo of the Commonwealth of Dominica and Mr Errol Allen of St Vincent and the Grenadines, comprise the five Commissioners of the ECSRC.

Mr Calvin Rodgers of Antigua and Barbuda (Chairman), to serve for a period of five years.

Mr Arthur Thomas of Antigua and Barbuda, to serve for a period of three years.

Mr Ambrose Sylvester of the Commonwealth of Dominica, to serve for a period of three years.

The ECSRC is the regulator of securities business in the Eastern Caribbean Currency Union (ECCU), including the Eastern Caribbean Securities Market (ECSM) which came into being on 19 October 2001. The ECSM facilitates securities trading in eight English speaking territories in the Eastern Caribbean, namely, Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines. The industry in these territories is governed by uniformed securities legislation, the Securities Act 2001 and amendments, and Regulations to the Act.