BUSINESSES - SOCIF is here to help new and established businesses check out whether a business-to-consumer offer potentially breaches consumer protection legislation and SOCIF's best practice recommendations (an ongoing work with input from Trading Standards, consumer, and racing industry representatives).

The law requires a business-to-consumer offer to be properly and honestly described in all promotional material as well as the terms and conditions.

The offer of membership of a racing club is not categorised by the industry as shared racehorse ownership whereas an offer involving 100% of shared ownership of a racehorse can be properly described as syndication.

Regardless of whether the BHA authorise/licence an entity as a syndicate or a racing club, consumer protection is the overriding legal requirement.

Based on a BHA statement, neither businesses, nor consumers, can hold store in how the BHA authorise/register/licence syndicate and racing club entities. BHA Legal Department statement: "The BHA simply does not have the resources to fund a team of consumer law specialists to analyse the legal documentation of each racing syndicate."

SOCIF does have the resources to help businesses check the vital difference between club and syndicate. The service is FREE.

The SOCIF service includes, but is not limited to, helping establish whether the offer has the characteristics of a syndicate (shared racehorse ownership) or racing club membership (where the members do not become part owners). Furthermore, businesses are invited to add their own input to SOCIF. The mission is to help protect the integrity of the syndicate and clubs' industry, helping to strengthen public confidence and create a strategy for growth.

CONSUMERS - If for example, you have been offered or sold an ownership share in a racehorse and have subsequently discovered that you have in fact been sold a membership in a racing club and you are not after all, a part owner of the horse, you can contact SOCIF (anonymously if you wish) and appropriate action will be considered. Where SOCIF is unable to help you by successfully acting as intermediary, the matter can be passed on your behalf to Trading Standards.


Please note that the content of the SOCIF website or any subsequent communication, does not constitute legal advice.