THE Securities Commission yesterday confirmed that Hillary Deveaux is resigning as executive director with effect from August 31, 2010, to take up a post as capital markets advisor with the Caribbean Regional Technical Assistance Centre (CARTAC) in Barbados.

CARTAC provides technical assistance and training in core areas of economic and financial management to member countries throughout the Caribbean region, including the Bahamas. The International Monetary Fund (IMF) serves as the executing agency for CARTAC.

Philip Stubbs, the Securities Commission's chairman, will assume Mr Deveaux's responsibilities as an interim chief executive until a replacement is found.

Mr Stubbs said: ...

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