Consultation into the Regulation of Shared Ownership Launched by BHA

A consultation into the regulation of shared ownership was launched by the British Horseracing Authority on Thursday. The purpose of the evaluation is to identify the current risks and opportunities of shared owner ship and how these can be addressed to promote growth and consumer confidence in syndicates and racing clubs. This consultation was one of the nine key goals for British racing's recover plan published last week. Key areas of interest are:

• Current registration structures can best support evolving ownership models;
• Prospective owners can make well informed decisions about shared ownerships;
• Shared ownership currently aligns to expectations;
• Regulation could be strengthened to mitigate risks and promote growth;
• Appropriate information is held about those involved in shared ownerships

The process is open to everyone and will take the form of an online survey which will run for eight weeks beginning on

Sept. 3. All responses will be analysed and recommendations made for a discussion with industry stakeholders prior to being considered by the BHA Board. Final decisions will be published in early 2021. For more informatio, go to www.britishhorseracing.com.

“The acquisition and retention of racehorse owners has never been more crucial to the future prospects of British Racing,” said BHA Chief Operating Officer Richard Wayman. “Shared ownership is an affordable and fun way to enjoy racehorse ownership and has been steadily on the rise in recent years. As the number of people involved in, as well as managing, Syndicates and Racing Clubs increases, though, the associated risks invariably increase too.

“In recent years, we have seen a small number of incidents both in Great Britain and abroad, which have highlighted the risks posed by shared ownerships which are not properly run. While the vast majority of syndicates and racing clubs operate scrupulously and, in fact, work to drive up standards, it is critical for continued growth that the public retain trust in shared ownership and all those involved are sufficiently protected.

“This consultation provides an opportunity for us to work proactively by gathering feedback from those with experience of shared ownership as well as the wider racing industry. It will allow us to build on the Syndicate Code of Conduct launched in 2017 and our existing ownership registration function to ensure regulation meets the needs of our participants and provides a platform from which syndicates and racing clubs can grow their businesses.”