The British Horseracing Authority (BHA) has released its findings in the Review of the Buying and Selling of Bloodstock and Racehorses within British Racing. Commissioned in June of 2017 and completed earlier this year, the Review was led by the independent external advisor and former police officer Justin Felice. Since its completion, the Review has already precipitated the formation of the Bloodstock Industry Forum (BIF). Initiated in September, the organization is made up of the Federation of Bloodstock Agents, Goffs, the National Trainers' Federation, the Racehorse Owners Association, Tattersalls, the Thoroughbred Breeders' Association, the Breeze Up Consignors Association and the British Horseracing Authority.
“The bloodstock industry welcomes the BHA Review of the Buying and Selling of Racehorses and Bloodstock in Britain and, since August, has been working closely with the BHA in response
to the findings and recommendations included in the review, many of which have already resulted in action,” said Tattersalls Marketing Director Jimmy George, who chairs the Bloodstock Industry Forum (BIF).
As a result of the Review's findings, the bloodstock industry's Code of Practice, which outlines the principles and standards which must be met during the sale of bloodstock, stallion shares and nominations, is currently being revamped.
“Work is well under way in producing an all new, robust Code of Practice which will not only appear in all Tattersalls and Goffs sales catalogues but will be widely disseminated and available through all BIF member organisations and will be regularly reviewed. Critically, the new code of practice sets out to introduce a complaints procedure independent of the industry bodies with, when necessary, ultimate sanction lying with the BHA, whose regulatory and investigative processes BIF believes to be sufficiently robust and confidential to support the implementation of the new code of practice.”
Added Chief Executive of the BHA, Nick Rust,”The BHA is pleased to be part of the Bloodstock Industry Forum and to be working closely with the other BIF members in response to the recommendations of the review published today. We recognise the commitment from leaders in this sector of the racing industry to integrity and transparency and look forward to engaging with the BIF to agree how both are enhanced in the context of the findings of our review. We have published our findings in accordance with our commitment as a regulator to openness and accountability and will work collaboratively to build on the progress already made by the BIF in the New Year.”
For the complete Review, click here.
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