1. A member must do nothing contrary to the standard of ethics and professional practice from time to time established by the Federation and observe the highest principles of professional probity and business practice. A member shall display if appropriate the logo of the Federation to indicate affiliation and observance of the Federation's Code Of Ethics.
  2. A member, in the best interests of the public, the Federation, its members and his/her own business, should always be loyal to the Federation and be active in its work. He/she must do everything in his or her power to increase public confidence in the profession, to promote goodwill and friendly business relations amongst members, advance the interests of the profession and maintain its integrity and status. Members should suppress any dishonourable or unprofessional conduct or practice, be willing to share their experience with other Federation members and generally protect and promote the standing of the profession.
  3. Members must strictly observe all statutory obligations imposed upon them and must observe them not only in the letter, but in the spirit.
  4. Members shall avoid exaggeration, misrepresentation, or concealment of pertinent facts. Members have an obligation to discover adverse factors that a reasonably competent and diligent investigation would disclose.
  5. In accepting employment as an agent, the member pledges himself/herself to protect and promote the interests of the client. This obligation of absolute fidelity to the clients' interest is primary. It does not relieve the member of the obligation to treat fairly all parties to the transaction.
  6. A member's relationship with his/her client or customer should always be confidential.
  7. Members shall not undertake to provide professional services where they have a present or contemplated interest unless such interest is specifically disclosed to all parties to the transaction. Members shall not acquire an interest in or buy for themselves, any member of their immediate family, their firm or any member thereof, or an entity in which they have an ownership interest (other than a public company), bloodstock listed with them, without making the true position known to their clients.
  8. When acting as agents, members shall not accept any commission, rebate, or profit on expenditure made for their client, unless such fact shall be first made known to the client.
  9. A member must not attempt to supplant or compete with another member by any unfair or improper means.
  10. A member shall at all times be responsible for the actions of his/her employees and anyone acting on his/her behalf in their business relations with fellow members, clients and the public in accordance with this Code Of Ethics.
  11.  A member must not place after his/her name any words, letter or other matter indication that he/she has held or is holding office in the Federation, as a method of promoting his/her business.
  12. The Federation has taken a stance on the use of steroids and hence on 11th April 2011 resolved that steroids should not be used in yearlings to be offered for sale.  It is the Federation’s view that vendors should make written notification of such treatments to the selling agents, and disclosure then made to the public prior to auction.  However, it is understood that in rare circumstances steroids may have been administered as a necessity for the health of an individual yearling.