The Australian Prudential Regulation Authority (APRA) has announced the winners of this year’s Brian Gray Scholarship.

The regulator and the Reserve Bank of Australia launched the program in 2002 in memory of former APRA executive Brian Gray.

The scholarships, valued at $15,000 each, allow recipients to study topics in the financial sector and present their findings to APRA.

The winners are Pearpilai Jutasompakorn, Monash University; Melissa Ljubic, University of Wollongong; Elise Nisbet, Flinders University; and Jason Zhiwei Qu, University of NSW.

The program is open to Australian and New Zealand citizens and permanent residents studying topics relevant to prudential regulation.