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        BREEDING FORUM >> Bloodstock Industry "Is not fit for purpose"
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Mark One



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Posted: Thu Aug 15, 2019 16:35 pm

Some points from the so called 'leaked' report:
Among the conclusions and recommendations made in the report, a copy of which was leaked to the Racing Post, are:
The current regulation of the bloodstock industry "is not fit for purpose", with agents, in effect, entirely unregulated

Many industry participants admitted they had been victims of unethical practices or knew of those who had been often relating to "improper inducements and payments"

The most prevalent unethical and/or unlawful practices were found to be secret profiteering, agents representing two sides of the same transaction with at least one of those sides being unaware of the fact, agents demanding "luck money" from vendors and sales prices being artificially increased through conspiratorial pre-agreed bidding-up

The industry's current code of practice is irrelevant due to a fear-induced 'code of silence' that has led to the review team's knowledge, at least of not one recorded complaint being made to an official body or sales house

The BHA has legitimate reasons to be considered the rightful regulator of the bloodstock industry, whose members should agree to fall under its jurisdiction

Efforts must be made to establish the support of key bodies in Irish racing and bloodstock
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