The need for Regulation

A quote in todays news,aimed at SA cricket,but I believe racing needs to take note of
"Business will not invest in a sport if a culture of corruption exists"
We need to dispel the perception,real or otherwise, that racing has in this respect.

But who needs regulated more? Jocks,NHRA,Bookies,Stipes,Trainers?

Punters Hibs, oops sorry they are reguarly silenced or ignored anyway!

The entire Industry needs to have appropriate rules and regulations ..........they need to all be enforced(including being seen to be enforced).
The last thing you want is any one section to be seen to be more regulated than another IMO.

What are you saying Rob, time to restructure existing bodies or add more bodies to drain more from racing in the same way as regulation is draining the life out of small business?

Cant speak for Rob,but there are rules inplace they just need to be implemented,for example the form reversals that happen day in day out

Al,if you see the situation in anyway similar to the way the FSB is regulating the insurance industry then I would guess that you have taken little or no time to read and understand the rules,their purpose and original intent and who and how they should be implemented.
I am talking about an existing body that is not providing what it is already paid to do ..........to enforce it's own rules and regulations.
In my years of racing I have always told everybody that I interact with,about my interest in racing,and have been faced with "oh but that is so crooked",or similar, by at least 50% of them.I used to be able to put up a good argument against that ,but not anymore..........I no longer believe it myself to anything like the same extent!
I know many people ,including on this forum, who are secretive about their participation in racing.......they are not forthcoming to their family,business colleagues or associates,certain of their friends and heaven forbid,their church.
How sad is that ? and perhaps strong and advertised policing may provide an improved credibility..............it certainly needs something!
Read again the original quotation.I believe that the Sport of horseracing suffers more than any other,from a perceived "culture of corruption"
How would you go about changing that, because right now sponsors are not investing.

(BTW,I sense that you feel as victimised by the FSB as you do by Outsurance.I sympathise and the reason I sold my business was that I had as many staff working on compliance issues as on the core business............but consider this.....it all came about due to the failure of the Insurance industry,to adequately regulate itself.
If the NHA doesn't adequately self regulate our sport, we run the danger of the NGB doing the very thing you fear)

Cops, investigations, bookings, prison............

Here's how this vicious circle of corruption operates :

If I am a trainer and my biggest patron tells me to give his horse 'an easy' I lose the string if I refuse.

If I am a farrier and I witness breeders pumping yearlings full of steroids before the sales I lose my livelihood if I blow the whistle.

If I am a breeder and sell five horses at a sale whereafter only one is paid for the sales operator will claim commission amounts due on all five horses first before remitting any funding to me.

If I am a vet I am regarded as a 'professional' and almost above reproach from the layman. But how do I reconcile treatment as against rest? One earns me whilst the other does not.

If I am the operator and stonewall any question or query how should I be viewed?

Garrick Wrote:

---

> Here's how this vicious circle of corruption
> operates :
>
> If I am a trainer and my biggest patron tells me
> to give his horse 'an easy' I lose the string if I
> refuse.
>
> If I am a farrier and I witness breeders pumping
> yearlings full of steroids before the sales I lose
> my livelihood if I blow the whistle.
>
> If I am a breeder and sell five horses at a sale
> whereafter only one is paid for the sales operator
> will claim commission amounts due on all five
> horses first before remitting any funding to me.
>
> If I am a vet I am regarded as a 'professional'
> and almost above reproach from the layman. But how
> do I reconcile treatment as against rest? One
> earns me whilst the other does not.
>
> If I am the operator and stonewall any question or
> query how should I be viewed?


Brlliant Garrick u just forgot the BOOKMAKERS !!!!

if I'm a punter and I see absurd results what do I do, currently tear my ticket and hope for better results in the next race.....

I don't feel victimised by either the FSB or the Outi company. Rob I am one of the lucky ones that got into financial services after the regulation and therefore enjoyed the learning experience, in fact I am still studying. I was one of the first of the initial 20 % to write and pass both Representative and Key individual exams on first attempts. I therefore fully understand the regulation and in fact agree with and understand the purpose of it. It certainly has cleaned the industry of some of the unsavoury characters and helped the industry's image as a whole. The fact of the matter is if one runs a financial services company in line with act, you are running an expensive but good company. I get what you mean about cost of compliance though.

Don’t get me going on Out i surance. I had another run in with them again. They refused to accept a signed brokers note (a limited power if attorney) and cancel an unhappy clients policy. I called them had a full go and was instructed to send a mail which I did and they did not respond (typical call centre bullsh!t and lack of accountability). Our company was one of the founding members of SAIBA a front runner for what is now the FIA and we are still members so I thought; let’s see what their view is on this. I called the FIA and they advised that there are plenty of these complaints. The FIA also advises that it’s better left alone as they will wrap a broker up in expensive litigation and it is not worth taking them on. Fact of the matter is; how are the Outi’s acting in the client’s best interest by not accepting a written instruction to cancel? The client is at risk of two premiums going off, one or both could bounce as a result and the client is left uninsured. They are not looking at clients interests; they are putting their own interests first and hiding behind retention departments and their slogan of not dealing with brokers. Question; is it not the very purpose of the FAIS act to put the client’s interests first?

The point on cost of compliance was not specifically aimed at FAIS regulation or the FSB but rather the volume of regulation knocking the crap out of small business and business at large. Labour regulation, new Companies act regulation, consumer protection regulation, the cost of compliance and all this on the private sector which has the most potential to deliver on jobs.

Imposing a regulatory body on racing may have the effect of cleaning up racing but will also have the effect of draining more cash out of a cash strapped game. It’s more likely to create spin off for non horse racing related industries at the cost of racing.

I say restructure what is already in place. Chop off some deadwood and streamline operations. Review the rules system regularly and have more stakeholder participation i.e. include a punters association.

I am not shy to say that I love racing. I see the looks I get from people when I talk racing but I really don't care. Half the time the looks are from hypocrites who are shagging their best mates wife or being more pissed than sober or putting shit up their nose that was smuggled into the country in someone’s backside. I'll proudly stick to racing thanks.