Federation of Bloodstock Agents (FBAA) wholeheartedly supports the upcoming introduction of new rules relating to the trading of horses of all ages whether as racing or breeding prospects.
From 1 January 2017, Racing Australia will introduce the new Australian Rule of Racing 28 (AR.28.) which applies to all persons involved in the selling and trading of Thoroughbreds.
Broadly, the rule states that any person involved in the selling or trading of thoroughbreds must not receive, solicit or offer any payment or benefit that has not been fully disclosed and consented to by all parties involved in the ownership, sale and purchase of that horse.
"Given the small number of incidents this year where a few industry participants were found to have acted improperly regarding the sale of racehorses, the FBAA welcomes any improvement to the regulation of our industry,” FBAA President Adrian Hancock said.
“At the end of the day the most important thing is for all owners, traders and agents to act with integrity and honesty. Without that we don't have confidence and without confidence we can't attract new owners and racegoers.”
Members of the FBAA operate with the utmost integrity and professionalism; members are bound by the strict FBAA Code of Ethics held to account via a complaints system; and also abide by the Industry Code of Conduct.
All purchases of yearlings at auction by our members can be seen by the appearance of (FBAA) next to the agents name on the results sheet. For more information or to contact an FBAA member to inquire about purchases or sales of bloodstock please visit our website.
May we take this opportunity to wish all our clients and industry participants a Merry Christmas and a Healthy & Winning New Year.