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In
March 2005, the Central Bank of Malta established the John
Earland Prize Fund. John Earland, a former Governor of the
Bank, has donated the sum of ten thousand US Dollars for
the establishment of a fund to finance the award of an annual
prize for the best essay or academic result related to the
financial markets discipline. The purpose of the award is
to enhance awareness of issues relating to the financial
markets and to encourage the upgrading of skills and knowledge
in this area. The regulations governing this award are as
follows.
REGULATIONS OF ‘THE
JOHN EARLAND PRIZE FUND’
Scope
The
purpose of the Prize Fund is to enhance awareness of issues
relating to the financial markets and to encourage
the upgrading of market-related knowledge and skills.
Eligibility for Nominations
Any
person who is pursuing one of the below mentioned qualifications
in or from Malta.
Method of Assessment
(a) The Prize shall be awarded
for the best result obtained in the Certificate/Diploma examinations
of the Financial Markets Association (ACI) or the Certificate
for Financial Advisors (CeFA) examinations of the Institute
of Financial Services (IFS) or in examinations of other academic
bodies as may be determined by the Central Bank of Malta,
provided that the grade obtained is deemed to be of acceptable
level
to an Adjudicating Panel appointed by the Bank.
(b) In the event
that nobody is successful in the examinations referred
to above, the Prize would be awarded for the best
essay submitted in an ad hoc competition organised by the
Bank during the same year on a theme related to the foreign
exchange,
money and capital markets in Malta. The essay competition
is open to all employees within the local financial services
sector
and the limitation outlined in 2 above does not apply in
this case.
The Award
€500 (Five hundred
euro)
Method of Selection
(a)
In September of each year the Adjudicating Panel will formally
ask the two Institutes
mentioned under "Method of Assessment - (a)" above to
submit the names of the top local candidates (studying the
ACI or CeFA qualifications) during the previous academic
year. In reaching its decision, the Adjudicating Panel will
be guided
by the following criteria:
(i) The total marks obtained
by the individual; and
(ii) The number of students that sat for the examination
during the academic year.
In the event that qualifying
passes are obtained in the examinations of more than one of
the eligible
academic bodies, the prize
will be awarded on an alternating basis in accordance with
a sequence decided by the Adjudicating Panel.
(b) If the required
standards are not met or there are no entries for the specified
examinations, the Panel will launch
an essay competition on a theme related to the foreign exchange,
money and capital markets in Malta. Entries for the essay competition
shall consist of around 3000 words. Participants in the competition
will be required to submit three printed copies of their contribution.
The Panel will appoint two independent examiners in this case
to assess and mark the essays on the following criteria:
• Knowledge
of the subject;
• Level of expression; and
• Method of approach in tackling the subject.
The Panel
will decide on whether and to whom to award
the Prize on the basis of the examiners’ report.
In all cases, decisions of the Adjudicating
Panel are final.
Adjudicating Panel
The
selection panel will consist of two senior officials of the
Bank appointed by the Governors.
Administration of the Fund
The Central Bank of Malta will
administer the John Earland Prize Fund.
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