Thursday, 4 November 2004
Trainers, Bl'stock Agents & Persons Offering Shares In Racehorses - ASIC Compliance Checks
As part of the second stage of its compliance campaign, the Australian Securities and Investment Commission has issued a Press Release regarding the investigation of unlicensed operators selling shares, etc. in the Financial Services Industry.
Racing NSW again reminds persons offering shares in racehorses to ensure their activities fall within the law.
As stated in our Strategic Plan, Racing NSW was pursuing options for an Australian Financial Services Licence from ASIC to enable trainers and breeders a cost effective pathway to offer shares for sale legally. The licence has been assigned to the Thoroughbred Trainers Service Centre (TTSC) who are now part of RISA.
Trainers who wish to promote the sale of shares in racehorses may do so under this licence by contacting TTSC directly http://www.ttsc.com.au/about_us.html
For a copy of the ASIC press release click here