Daily News Archive

Search nearly 75,000 unique Daily News articles.

Daily News Subscription

New Aust Sales Code Of Conduct

Thursday, 21st July 2011

A new Australian Sales Thoroughbred Code Of Conduct was released yesterday by the industry’s “8 major participants in order to bring greater transparency & accountability to agents acting on behalf of buyers”. The code has been signed by The Australian Racing Board, Thoroughbred Breeders Australia, Magic Millions, William Inglis & Son, Federation Of Bloodstock Agents Australia, Australian Trainers Association, NSW Trainers Association and Equine Veterinarians Australia. The code “is the strongest in the world alongside the US code & introduces a Complaints Advisory Panel to which an aggrieved party can seek a resolution without having to resort to expensive & time-consuming legal action”. Thoroughbred Breeders Australia chief executive Peter McGauran said that the reforms would strengthen existing safeguards & generate greater confidence in the sales system, noting: “Complaints against agents – defined as any person representing or advising a buyer or seller at a sale – are infrequent to the point of being rare; but all of us have a vital interest in maintaining confidence in the sales system & answering any criticisms, however ill-informed or unjustified. We have jointly agreed on a new Code Of Conduct not because of any identifiable problems, but because we want to meet & even exceed the highest standards possible expected of us by buyers & the general community.”

« Previous
Return to
21st July 2011 News
Next »