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Banishment of Bribery, Bidding-Up Key in New Bloodstock Code

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Banishment of Bribery, Bidding-Up Key in New Bloodstock Code THURSDAY, 5 AUGUST 2021 BANISHMENT OF BRIBERY, EX-RACEHORSES AT THE HEART OF THERAPEUTIC VENTURE By Emma Berry BIDDING-UP KEY IN NEW For many people, the recent Panorama documentary which focused on the desperate plight of a handful of former BLOODSTOCK CODE racehorses ending up at an abattoir was distressing viewing. For many of us who work with racehorses, it also brought about a feeling of utter frustration. Frustration that a 30-minute programme which showed just one side of a story could potentially undo so much of the good work that has been done in aftercare for ex-racehorses for years. Frustration that some people who do very well out of owning and training racehorses still do not take the necessary steps when it comes to rehoming or, in some cases, euthanasia. There are plenty of wonderful examples of how we can help Thoroughbreds to have a useful second career--in eventing, showjumping, hunting, polo, or simply as a much-loved riding horse--and what is perhaps not emphasised enough is how they can help us. Cont. p4 The Bloodstock Industry ForumBwhose members include Goffs and IN TDN AMERICA TODAY Tattersalls, among othersBsupports the new Code | Goffs GRADE I WINNER DAYOUTOFTHEOFFICE RETIRED Tim Hamm and Siena Farm’s Frizette S. winner will be offered at the upcoming Fasig-Tipton November Sale. Click or tap here The banishment from British and Irish sales of briberyB>luck to go straight to TDN America. money= or otherwise--of individuals acting for both sides on a sale without prior consent and of the practice of collusive bidding-up are the key themes of the updated Bloodstock Industry Code of Practice, which was released on Wednesday. The Code, which was drawn up in response to recommendations from the British Horseracing Authority=s Review of the Buying and Selling of Bloodstock and Racehorses in British Racing released in December 2019, will be formally incorporated into the rules of British Racing on Aug. 16. As such, anyone found by the BHA to be in breach of the code, whether that individual is bound by the rules of racing or not, may be banned from British racecourses and other licensed premises as well as from doing business with licensed individuals. Tattersalls and Goffs have amended their terms and conditions of business to establish a right to ban any individual from their sales who has been found guiltyBor anyone working on their behalf has been found guiltyBof a criminal offence appearing to involve a breach of the code. Cont. p2 TDN EUROPE • PAGE 2 OF 11 • THETDN.COM THURSDAY • 5 AUGUST 2021 Banishment Of Bribery, Bidding Up In Bloodstock Code cont. should generally only be rewarded by their Principal, the Breaches of the code may lead to civil and criminal liability; purchaser.@ In the case of bribery, both the individual receiving since the last code came into effect in 2009, bribery has been the bribe and the one giving it are at fault. made a criminal offence in the UK, punishable with a maximum The code goes on to describe collusive bidding-up as Aa serious prison sentence of 10 years. The code applies to all British and abuse of the market.@ Examples include a vendor coming to an Irish sales that take place after agreement with one or more Aug. 16, and encompasses all parties to bid on their horse participants whether they are without the intention to buy, on the sales grounds in Britain thus driving up the price, and a and Ireland or not. vendor and purchaser entering The code states that bribery into an agreement whereby of agentsBnamely the paying the purchaser agrees to bid on by a vendor of >luck money= as the horse in exchange for a an incentive to purchase a certain percent of the sale particular horse, and thus price if they buy the horse, resulting in the agent not giving them an unfair necessarily acting in the best advantage over other bidders. interest of their principalBAis a Such practices are in breach of central concern to which the the code. Photo courtesy Tattersalls Code is directed.@ The Bloodstock Industry Code The code continues, AParticipants should be clear that there of Practice, which will be reviewed annually, was written and can generally be no legitimate reason for an Agent of the approved with the full support of the Bloodstock Industry Forum purchaser to be rewarded in any way by the vendor and parties members: The British Horseracing Authority, the Irish related to the vendor, and that the Agent of the purchaser Horseracing Regulatory Board, Horse Racing Ireland, the Irish TDN EUROPE • PAGE 3 OF 11 • THETDN.COM THURSDAY • 5 AUGUST 2021 Banishment Of Bribery, Bidding Up In Bloodstock Code cont. Thoroughbred Breeders Association, the Breeze-Up Consignors Association, the Federation of Bloodstock Agents, the National Trainers Federation, the Racehorse Owners Association, the Thoroughbred Breeders Association, Goffs and Tattersalls. The Bloodstock Industry Forum has likewise implemented a facility for participants with concerns that the code has been Senior Vice President Gary King breached to obtain free initial legal advice from an independent Twitter: @garykingTDN lawyer, with initial legal fees to be paid by the Bloodstock [email protected] Industry Forum. + 1.732.320.0975 Tattersalls Marketing Director Jimmy George, who chairs the Bloodstock Industry Forum, said, AIt has been a long process, but International Editor in response to the BHA Review of the Buying and Selling of Kelsey Riley Racehorses and Bloodstock in Britain, the Bloodstock Industry Twitter: @kelseynrileyTDN Forum is delighted to have finalised a new, robust Bloodstock [email protected] Industry Code of Practice which has been approved by all of the European Editor key British and Irish industry bodies as well as the British Emma Berry Horseracing Authority and the Irish Horseracing Regulatory Twitter: @collingsberry Board. The new Code of Practice will be formally incorporated [email protected] into the rules of British Racing and appear in all Tattersalls and Goffs sales catalogues, starting with the forthcoming Goffs UK Associate International Editor Premier Yearling Sale. It will also be widely disseminated and Heather Anderson available through all BIF member organisations as well as being Twitter: @HLAndersonTDN subject to regular review. Importantly the new Code of Practice Marketing Manager has introduced a complaints procedure independent of the Alayna Cullen industry bodies and individuals found to be in breach of the Twitter: @AlaynaCullen Code, either in criminal or civil proceedings or having been [email protected] sanctioned by the BHA for breach of the code, will also be subject to exclusion from participating at Tattersalls and Goffs Contributing Editors sales in Britain and Ireland. Alan Carasso Christina Bossinakis Cafe Racing Sean Cronin Tom Frary [email protected] Irish Correspondent Daithi Harvey Regular Columnists Chris McGrath | John Berry | Kevin Blake Amy Lynam | Melissa Steele IN TDN AUS/NZ TODAY Photo courtesy Tattersalls THREE-YEAR-OLDS TO WATCH TDN AusNZ looks at the 2-year-olds of 2020/21 that should make a deep impression this spring. Click or tap here to go straight to TDN Aus/NZ. Want to list your job? Standard listing:$350 Multi listing: $300 each • One printed ad on this page (date of your choice) • Two printed ads on this page (two dates of your choice) • 30 day listing on our careers page:thetdn.com/careers • 30 day listing on our careers page:thetdn.com/careers • Job promoted through our social media channels • Job promoted through our social media channels Contact the TDN Ad Staff: [email protected] > 64.2K >53.1K >33.1K for details or to post a job TDN EUROPE • PAGE 4 OF 11 • THETDN.COM THURSDAY • 5 AUGUST 2021 Banishment Of Bribery, Bidding Up In Bloodstock Code cont. AIt is essential if we are to attract and retain owners in the AThe Bloodstock Industry Forum has also developed an >E - sport that anyone involved in the purchase of bloodstock can learning= integrity module which will be adopted as part of the have confidence that they are being treated fairly, and the Code trainer licensing process in Britain as well as being mandatory will help further enhance British racing=s reputation on this for members of the Federation of Bloodstock Agents, while both front.@ Tattersalls and Goffs have committed to making full ownership Goffs Group Chief Executive Henry Beeby added, AI am details readily available to registered potential buyers as pleased that the British and Irish racing and bloodstock recommended in the review.@ industries have come together to deliver one gold standard to AThe commitment from each member of the Bloodstock enhance the buying and selling of bloodstock on these shores. Industry Forum to delivering a new Code of Practice has been From an auction house perspective we certainly insist on the unwavering and we are confident that we have produced a same transparency and high standards of integrity at every sale detailed, robust code, subject to regular review, which will stand we conduct regardless of location, and feel this new Code the test of time,@ George added. AWe share a collective addresses all the issues raised in the BHA report.@ responsibility to preserve and enhance the global reputation for Horse Racing Ireland CEO Brian Kavanagh said, AHorse Racing integrity which has always been central to the success of the Ireland and the IHRB welcome the new Code of Practice. We British and Irish bloodstock industries and the new Code sends acknowledge the work and collaboration by the Bloodstock out the very clear message that we will do everything in our Industry Forum in drafting this document, and look forward to power to maintain and increase confidence in an industry which continuing our work with all stakeholders.@ is held in the highest esteem throughout the world.@ Oliver St Lawrence, Chairman of the Federation of Bloodstock BHA chief executive Julie Harrington said, AThe BHA welcomes Agents, said, "Just like the other members of BIF, the FBA have the publication of the Code of Practice, and the collaborative embraced the principles of the BHA Bloodstock Review and have industry approach that has been taken to achieve this milestone.
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