The ECU Group plc sponsored Jack Clarke in 2007 ’s Formula Palmer Audi championship (FPA) – one of the premier training grounds for aspiring Formula 1 drivers.
The championship is a true test of a driver’s skill as all of the cars are owned and maintained by the FPA team ensuring absolute equality of equipment and providing a unique level playing field for the drivers.
Jack - one of the fastest drivers over the winter - finished 4th in the driver rankings.
On Saturday 16th June 2007 Windlesham House School staged elements - the most ambitious event ever produced by a UK School. Using lasers, projections, advanced pyrotechnics, dancing flamethrowers, outdoor stages and rock concert sound and light systems, a cast of hundreds of local children performed in collaboration with some of the leading figures in the entertainment world. It was a truly spectacular experience pushing the boundaries of what has previously been considered possible.
The purpose of the day was to raise awareness and money for Chestnut Tree House Children’s Hospice, the only children’s hospice in Sussex. As it receives no government funding at all, the Hospice relies on charitable contributions to maintain its vital work in the community. Children from all over Sussex came together to support Chestnut Tree life-limited children and their families. To see the work done by Chestnut Tree House Children’s Hospice and how they raise the £2 million a year they need, visit www.chestnut-tree- house.org.uk.
With the cooperation of the International Space Station and the RAF, and using a 7.1 surround sound system (which is believed to be a world first for a live outdoor performance), the show enveloped the audience with light, sound and music. There was also a whole day of family entertainment including a farmer’s market, helicopter rides, super-cars, face painting, fire eating, a climbing wall and much more.
The ECU Group sponsored the face painting stall at the event and hope to assist in meeting the fund-raising targets for the Chestnut Tree House Children’s Hospice.
Macmillan Gulls’ Eggs City Luncheon
We are delighted to continue our support for the Macmillan Gulls’ Eggs City Luncheon, held this year on 15th May in Merchant Taylor’s Hall, London.
The annual event raises money and awareness for Macmillan Cancer Support, who give support to people affected by cancer and invest in better cancer care.
To find out more about the event, or how you can support Macmillan, please visit their website here.
Foreign exchange movements can be sudden and substantial. At no stage should you expose yourself to the high risks of foreign currency exposures if you are not able to afford the potential losses that could result from sizeable adverse currency movements and the higher interest rate servicing costs that would be required of you in the event of your having a larger debt.
Denominating debt in foreign currencies may not be suitable for you. Changes in the exchange rate may increase the sterling equivalent of your debt. Your lender will not tolerate too great an increase in the sterling equivalent of your debt as a result of currency losses and may opt to convert your debt back into sterling at a predetermined level. This may result in a permanent increase in the sterling equivalent of your debt which is not fully compensated for by any other benefits derived during the course of The ECU Group plc's discretionary currency debt management services. In this event, you could be left paying UK interest rates on a larger amount of sterling debt than that you originally borrowed. Your home may be repossessed if you do not keep up repayments on your mortgage.
Your lending bank sets a 'Conversion Limit' at which level they have the right to convert your managed multi-currency mortgage back into sterling to prevent further currency losses. It is important to understand that this is a right of your lending bank and not an obligation and that if they do not act promptly to convert your loan back into sterling when your Conversion Limit is reached, your loan could increase by more than that specified by your Conversion Limit.
ECU may from time to time transfer your loan into foreign currencies with higher interest rates than sterling with the objective of achieving a debt reduction in that currency.
Sterling interest rates are subject to change and the differential between sterling interest rates and the interest rates of other foreign currencies will fluctuate.
Suitability
The markets or financial instruments discussed herein may not be suitable for all investors and investors must make their own investment or participation decisions using their own independent advisors as they believe necessary and based upon their specific financial situation and investment objectives. Past performance is not a reliable indicator of future performance, and should not therefore form the basis of a decision whether or not to buy or sell any investments or financial instruments or to participate in any particular trading strategy mentioned herein.
The UK Regulatory System
The ECU Group plc ("ECU") is authorised and regulated by the Financial Services Authority.
In respect of managing physical liabilities in foreign currencies, ECU trades the foreign exchange markets on a spot basis and issues switch instructions to lending banks on a spot basis. Neither of these activities is currently regulated by the Financial Services & Markets Act 2000 as they meet the "Commercial Purposes" test. Therefore you will not benefit from the protection of the Financial Services and Markets Act 2000.
However, if ECU instructs the Lender, or any prime broker or counterparty with whom ECU effects foreign exchange transactions, to conduct a switch by way of effecting an “option” or “futures” transaction for the Client’s account, such transactions may be considered to be an “investment of a specified kind” under the Financial Services and Markets Act 2000. Consequently, both the execution process provided by the Lender, or any prime broker or counterparty with whom ECU effects foreign exchange transactions, and the currency management services provided by ECU, as envisaged under this Agreement, may be considered to be regulated activities. In such instances, the Client may be required to sign additional risk warnings and the rules for the protection of investors under the Financial Services and Markets Act 2000 will apply.
Other Important information
This website is maintained by ECU and is being issued inside and outside the United Kingdom by ECU for informational purposes only. It is not to be construed as an offer to buy or sell or a solicitation of an offer to buy or sell any investments or financial instruments or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation would violate applicable laws or regulations. ECU may not respond to requests for information or further assistance if, in the opinion of ECU, such action might be illegal or contravene any rule or regulation of any jurisdiction.
The views and foreign exchange and interest rate information in this website are based upon information from sources which we believe to be reliable but they are not guaranteed as to their accuracy or completeness. Expressions of opinion herein are subject to change without notice. Any contractual obligation between ECU and its clients will only be on the basis of undertakings contained in an ECU client agreement executed by both ECU and the client, as may be amended from time to time by ECU, and which may vary from any information contained herein. Products and services may be subject to material changes at any time from the information herein. ECU aims to ensure that all information herein is accurate at time of printing, but does not accept any responsibility for its accuracy.
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