The British Horseracing Authority (BHA) has published plans to strengthen the regulation of shared racehorse ownership following an industry-wide consultation completed in the autumn of 2020.
The consultation, which was formed part of one of the nine key goals for British racing’s recovery plan, examined the current risks and opportunities of shared ownership and how they might be addressed through enhanced regulation and improved administration.
The industry plan for shared ownership, which has been developed through consideration of the consultation feedback and further engagement with stakeholders, details 10 key measures to be introduced as part of a phased implementation plan over the next 12 months.
The measures are designed to support public confidence in Syndicates and Racing Clubs and provide a solid foundation for the continued growth of shared ownership. The measures include strengthening the existing Code of Conduct for Syndicates, which was originally introduced in February 2017.
Richard Wayman, Chief Operating Officer of BHA, said: “It is vital for the future of our sport that we are able to attract and retain racehorse owners. Syndicates and Racing Clubs clearly have a pivotal role to play in those efforts.
“The consultation responses confirmed that the sport has many extremely well-run Syndicates and Racing Clubs who give their members exemplary levels of service. It is crucial that the public can continue to have confidence in Syndicates and Racing Clubs, which these measures have been designed to support.
“My thanks go to all of those who took part in the consultation and took the time to offer the feedback which has been central in devising this important package of measures.”