In terms of reform 'Down Under':

From Breeding and Racing Daily News on 5 November 2004

NZTR Considers Code Of Practice

"NZ Thoroughbred Racing “is to consider the establishment of a Code Of Practice governing the buying & selling of thoroughbreds in New Zealand, in line with the UK’s Bloodstock Industry Code of Practice”. New Zealand “intends to work closely with other countries on this issue & particularly Australia”. The UK BICP sets out principles applying to all sales of bloodstock & sales of stallion shares & nominations (whether private sales or sales at public auction) “to ensure a high standard of integrity & transparency to safeguard vendors, consignors, agents, owners, trainers & sales companies”. NZTR noted the US “is also in consultation on the same issue under a grouping of industry stakeholders titled The Alliance For Industry Reform”."

From AAP Racing and Sports on 29 September 2004.

Plans For Bloodstock Code Of Practice by Chris Scholtz

"The Australian bloodstock industry will come under close scrutiny from the Australian Racing Board with a view to establishing a code of practice for auction companies and bloodstock agents.

"The ARB has appointed a panel to engage in consultation with the major auction houses, the Bloodstock Agents Association, owners, breeders and trainers on industry standards for bloodstock transactions.

"The move follows a similar review in the UK that was instigated by newspaper investigations into malpractice by agents and trainers.

"The UK review resulted in the Jockey Club publishing a "Bloodstock Code of Practice: which applies to all sales of bloodstock conducted privately and at public auctions.

"The sale of stallion shares and nominations are also covered by the UK code.

"The brief given to the Australian Racing Board panel is to examine the merits of adopting a similar code in Australia, as well as investigating other means of promoting confidence in Australian bloodstock sales.

"Racing NSW CEO Peter V'Landys has been appointed chairman of the review panel.

"He has invited interested parties to make submissions and suggestions on the approach that should be taken by Australian authorities.

"Submissions will be taken until October 20."

The Australian Racing Board has yet to release an interim report on the review.