Everton McFarlane, Executive Director of the Financial Services Commission, centre has resigned from the post. (Image courtesy of Kalilah Reynolds/Twitter)
Amid mounting pressure on the Financial Services Commission over its oversight of the scandal hit Stocks and Securities Limited, SSL, its executive director, Everton McFarlane, has resigned effective the end of this month.
That’s according to Minister of Finance, Dr. Nigel Clarke.
SSL has been in meltdown after news broke last week about the US multi-million dollar fraud at the investment firm.
The fraud has so far affected more than 40 people including legendary sprint King, Usain Bolt.
According to Bolt, he lost nearly 13 million US dollars which had been his self-designed pension.
However, a former client relationship manager at SSL, Jean Ann Panton, has given a sworn statement admitting how she stole millions of dollars from several clients.
According to Dr. Clarke, the Bank of Jamaica’s Chief Prudential Officer, Keron Burrell, will be seconded to the FSC to act as its Executive Director.
Dr Nigel Clarke, Minister of Finance.
This story has been updated from a previous version.