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Syndicate ownership
Having a share in a horse managed by an authorised syndicator is a great way for the general public to be introduced to horse ownership. Syndicate ownership helps share the costs and fun of owning a racehorse and makes the dream of ownership much more achievable.
As an authorised syndicator, you can publicly advertise opportunities to buy shares in a thoroughbred. You may wish to do this as a business opportunity, a way of marketing horses in your stable, or perhaps as a way of introducing new people to racing and sharing the ownership experience.
This section will help guide you through the process of becoming an authorised syndicator so you can publicly advertise shares in a thoroughbred. We can also offer you opportunities to advertise and market your horses.
Why should I become an authorised syndicator?
If you wish to publicly advertise opportunities to buy shares in a thoroughbred, we strongly advise you to apply to become an authorised syndicator and get NZTR approval of your disclosure statements before you advertise your offer.
The Financial Markets Authority considers shares in racehorses to be Managed Financial Products, so when the shares are advertised or sold to the public, they fall within the scope of the Financial Markets Conduct Act 2013. Anybody who wishes to sell shares in racehorses to the public must comply with the Act.
Because it is very difficult to comply with the Act, NZTR has negotiated an exemption from the onerous compliance requirements, provided that the person wanting to sell shares to the public becomes an Authorised Syndicator with NZTR and agrees to be bound by the Bloodstock Syndicator Code of Practice.
If you advertise shares without being an authorised syndicator and without NZTR approval of your disclosure statements, your offer will be regulated by the Financial Markets Authority (FMA), and may breach the Financial Markets Conduct Act 2013 if you haven’t followed the requirements of that Act.
If you are not advertising your horse, and it will be owned by a group of friends or family members, this is a private syndicate and doesn’t come under the same regulations.
How to become an Authorised Syndicator?
There is a different application process for Trainers or non-trainers. Follow the links below for more information or if you have any questions, please contact Head of Racing Administration, Colin Hall on 04 576 6261 or colin.hall@nztr.co.nz