Ethical Standards


This Code of Ethics applies to all Echra directors, officers and employees, as well as to directors, officers and employees of each subsidiary of Echra. Such directors, officers and employees are herein referred to collectively as the “Covered Parties”, Echra and its subsidiaries are referred to herein collectively as “Echra”.
 Echra continuously upholds highest levels of business ethics in all types of transactions. With this Code of Ethics we are aiming to emphasize our commitment to ethics and compliance with law, documenting the basic standards of ethical and legal behavior, helping prevent and detecting wrongdoing and providing reporting tools for suspected ethical or legal violations. This Code of Ethics serves only as a rough guide due to the complexity of ethical questions that arise in the course of business and its ethical standards.

Conflicts of interest

A conflict of interest exists when a person’s private interests interfere in any way, directly or not, with the interests of Echra. As conflicts of interests may not always be obvious, it is advised, in case of questions, to consult a supervisor or the legal department. Every Covered Party should bring to attention, the legal department or a supervisor, any knowledge of existing or potential conflict.

Corporate Opportunities

Covered Parties are prohibited from taking opportunities for personal chance that are discovered through the use of corporate property, corporate recources or information without the consent of the legal department of Echra.

Fair Dealing

Covered Parties shall always act in good faith, with due care, and shall engage only in fair and open competition, by treating competitors, suppliers, customers, and colleagues ethically correct. No gift should ever be offered or accepted by a Covered Party or any family member of a Covered Party unless it is consistent with customary business practices, not excessive in value, cannot be construed as a bribe or payoff and does not violate any laws or regulations applicable. The offer or acceptance of cash gifts by any Covered Party is strictly prohibited.

Insider Trading

Covered Parties who have access to confidential information are not permitted to use or share that information for stock trading purposes, or any other purpose, except the conduct of Echra’s businesses. All non-public information about Echra should be considered confidential information.


Covered Parties have to maintain the confidentiality of information, except disclosure is authorized by the legal department of Echra or required by law. The obligation to preserve confidential information continues even after the end of any form of cooperation.

Protection of Company Assets

All Covered Parties should endeavor to protect Echra´s assets. Any suspected incident of fraud or theft should be immediately reported for investigation.

Compliance with Laws, Rules and Regulations

Obeying the law is the foundation on which Echra´s ethical standards are built. In conducting the businesses of Echra, the Covered Parties shall comply with applicable governmental laws, rules and regulations at all levels of government in the United Kingdom and in any jurisdiction Echra is operating.

Reporting known or suspected violations of Ethical Standards

Covered Parties should report to supervisors, managers or other appropriate personnel about known or suspected illegal acts or unethical behavior. No retaliatory action of any kind will be permitted against anyone making such a report in good faith.

We are proud to operate within a frame of transparency and highest ethical standards.