Approval is to be sought at the October sitting of Tynwald for the appointment of members to the Island’s new Financial Services Authority (IOMFSA), which comes into being on November 1 this year.

The IOMFSA has been created by merging the Financial Supervision Commission (FSC) and the Insurance and Pensions Authority (IPA).

Following an open recruitment process Treasury will seek Tynwald approval for the appointment of the following successful candidates as members of the IOMFSA:

Mr Geoff Karran MBE – existing FSC member (chair)
Ms Lillian Boyle – existing IPA member (deputy chair)
Mr David Stacey – existing IPA member
Mr Roger Butler – existing FSC member
Mr Alan Smith – existing FSC member
Mr Paul Wright – existing FSC member (off-Island)
Mr Mark Waterhouse – new member
Mr Peter Kenny – new member

The newly appointed IOMFSA chief executive Ms Karen Badgerow will also be a member of the Authority but is not subject to the above Treasury appointment process.