[citation needed] In 2004â05 the FSA was actively involved in crackdowns against financial advice firms who were involved in the selling of split-cap investment trusts and precipice bonds, with some success in restoring public confidence.
Ascot is a racecourse for horses in the town of Ascot in Berkshire, England. The most famous horse race that takes place there is undoubtedly Royal Ascot. Founded by Queen Anne, the inaugural Royal Ascot horse race took place on 11th August 1711.
To help us in defining the ascot, we turn to set theory: All ascots are cravats, but not all cravats are ascots. Cravat is the historically general term for neckwear. Modern ties, bowties and ascots are all examples of cravats. An ascot, therefore, is a specific type of cravat. Figure 1. Euler diagram showing Ascot is a proper subset of Cravat and conversely Cravat is a proper superset of Ascot.