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Winning Essay of the ICFR and Financial Times Research Competition

ICFR Announces Winner of Inaugural Research Prize


London 24th February 2010 - The ICFR announces Ms. Nana esi Atsem as the overall winner of its inaugural research prize run in conjunction with the Financial Times on "How Best to Regulate the Bank of Tomorrow".

Ms. Nana esi Atsem will receive the winning prize of US$7,500 for her essay entitled “What Works Best for Banking Regulation: Market Discipline or Hard-Wired Rules?” (Click here to read the winning essay).   The judging panel selected the essay as they felt it addressed critical issues such as the relevant merits of convertible debt and subordinated debt instruments in a perceptive manner. They also felt Ms. esi Atsem presented a discerning argument for a balanced regulatory response, reflecting a genuine need for policy responses that are both international in scope and sufficiently flexible to encompass the idiosyncrasies of different regulatory jurisdictions.

Ms. esi Atsem is currently enrolled into a Master’s program in Law and Finance at Queen Mary University of London.

Two other notable essays submitted by Mr. Richard Wise and Mr. Darryl Mark Chambers, will be awarded runner-up prizes of US$1,500 each.

The expert judging panel which was led by Lord Currie, Chairman of the ICFR also included Dr Richard Reid, Director of Research of the ICFR, Brooke Masters, Chief Regulatory Correspondent of the Financial Times and Dr Philipp Hartmann.

Lord Currie commented:  "Fuelling debate around regulatory reform remains a key objective for the ICFR and the Financial Times.  The research prize was designed to engage financial industry participants in a discussion on the repercussions of banking regulation on the global economy and the submissions we received surpassed our expectations. The winning essay particularly impressed the panel who felt that it presented a very relevant argument on the current debate on moral hazard, too-big-to-fail and possible tax or insurance levy on the banking system". 
 

Winning Essay

Runner-up Essays