OWNERS WARNED ON INSIDE INFORMATION RULES
Download further information
Read more about this story
OWNERS with small shares in horses in a large racing stable could fall victim to the rules on inside information without realising it because the guidance can cause confusion, the Racehorse Owners Association says.
While accepting the rules preventing owners from laying their own horses are clear, the ROA is concerned some owners could be penalised for laying another horse in the same yardwithout realising they are committing an offence.
It has urged the BHA to act with sensitivity and is drafting some fresh advice for members on the issue.
The warning off of owner Harry Findlay (pictured) for six months for laying one of his own horses to lose turned the spotlight back on inside information. Findlay subsequently claimed he had special dispensation to lay runners from yards where he was an owner, which is also forbidden and which the BHA strenuously denied.
Writing in the Racing Post, Colin Russell described the guidelines as "fragmented, muddling and misleading" and were not set outclearly enough.
Michael Harris, chief executive of the ROA whose president Paul Dixon backed the BHA disciplinary panel's verdict in the Findlay case, said: "There is no ambiguity with the rule relating to owners laying their own horses. It is clear owners must not lay any horse in their ownership to lose a race. This applies to sole owners, joint owners, those involved in racing partnerships and where the registered owner is a company. Rule 92 sets out this rule in the Horse & Owner manual in the online Rules of Racing.
"However, the laying of horses in someone else's ownership in the yard where your horse is stabled is an area that could easily cause confusion. Schedule 3 of the manual contains a Code of Conduct for owners on this subject. The code requires that owners refrain from laying any horse from a yard where they have a horse in training.
"The problem is there may be owners with a small share in a racehorse in a large yard who would not be privy to any inside information, but may not fully appreciate they would be contravening the Code of Conduct and could be penalised for laying another horse in their trainer's care.
"It is clearly an area that needs sensitive handling. In view of this, we would have to advise any owner, large or small, to avoid laying a horse when they are aware that horse is in the same yard where they also have an ownership interest.
"It is clear, however, this would often happen accidentally and this would surely be recognised by the BHA in adopting a response that fitted the situation."
The BHA ruled out any change. Spokesman Paul Struthers said: "There is the integrity code of conduct for owners, which is an addition to the rule. The rule is quite clear. It is an offence to lay your horse. Rule E92 states 'an owner must not lay any horse he owns with a betting organisation to lose a race'. Paul Roy's statement said it last week that we won't be amending the rule. The rule was introduced on the back of betting exchanges."
***********
Inside Information: The Rules of Racing and Code of Conduct for Owners
The Rules of Racing require that owners do not lay any horse in their ownership to lose a race. This applies to sole owners, joint owners, those involved in racing partnerships and where the registered owner is a company.
Rule 92 sets out this rule in the Horse & Owner manual in the online Rules of Racing.
Schedule 3 of the manual sets out a Code of Conduct for Owners, which among other things requires that owners refrain from laying any horse from a yard where they have a horse in training.
Owners who lay another horse in their trainer’s care are in breach of the Code of Conduct and could be penalised, whether or not they are privy to any inside information.
The Rules of Racing appear in full at http://newrules.britishhorseracing.com/ and are set out below:
92. Restrictions on laying to lose
92.1 In Paragraph 92.2, Listed Person
92.1.1 means any owner of a horse (see Rule 96), and
92.1.2 additionally, includes
92.1.2.1 where the owner is a Recognised Company, any director or Registered Agent of the company,
92.1.2.2 where the owner is a Recognised Stud Company, any director of the company,
92.1.2.3 where the owner is a Racing Partnership, the partners of the racing partnership who are notified to the Authority under Rule 65.1.2 and who are not Nominated Partners,
92.1.2.4 where the horse is subject to a lease, the lessor of the horse, and
92.1.2.5 where the horse is jointly-owned, is leased for one race only or is subject to any other lease or arrangement registered under Rule 75, any Person who, at or around the material time, played an active part in managing the horse.
92.2 A Listed Person must not
92.2.1 lay any horse he owns with a betting organisation to lose a race,
92.2.2 instruct another Person to do so on his behalf, or
92.2.3 receive the whole or any part of any proceeds of such a lay.
92.3 Any reference to laying a horse to lose includes any single instance of doing so, whether or not the single instance was, or was intended to be, one of a series of betting arrangements.
92.4 Nothing in this Rule prevents the laying of any horse owned by a betting organisation in the ordinary course of that betting organisation's business.
92.5 Betting organisation means
92.5.1 any bookmaker,
92.5.2 the Tote,
92.5.3 any company offering spread betting on horseracing or person-to-person betting exchanges on horseracing, and
92.5.4 the employees of any such organisations.
Schedule 3 - Integrity codes of conduct: owners
1. This integrity code of conduct applies to any Person whose name is registered in the register of owners under Part 3.
2. Refrain from laying any horse in your ownership to lose a race.
3. Avoid imparting any information to anyone about your horse's non-participation in a race with a view to the horse being layed until such time as the non-participation has been distributed by The Racing Calendar Office.
4. Refrain from laying any horse from a yard where you have a horse in training.
5. Refrain from causing any Person who holds a licence or permit granted by the Authority and with whom you have dealings to contravene any requirement imposed on that Person by or under these Rules.
24/06/2010