21 OCTOBER 2005 - AND THE LIST CONTINUALLY GROWS !
It is a requirement of the Australian Securities and Investment Commission that Australian Financial Securities Licence holders whom promote racehorse syndications maintain specific registers for compliance issues relating to their licence.
Specifically, these compliance registers are made available so potential subscribers may be fully aware of past promotions and to ensure no conflict of interest may exist.
One specific register required is a past promotions register conducted by the Licencee and / or its Directors, Responsible Officer and employees.
The past promotions register (previous syndications) represents racehorses that have been Publicly or Privately syndicated, in part or in full, by Dean Watt either through his companies Dean Watt Bloodstock, Sports Star Syndications or as the director of Fengood P/L being being bloodstock consultants and the contracted representative of Graeme Rogerson and his Racing Stables (covering Racing Years 01,02,03,04). Dean Watt is the Director and Responsible Officer for DYNAMIC SYNDICATIONS - holders of AFS Licence 286961.
A working example of such compliance and disclosure regulations: RESET a dual Group 1 winner which was owned by Mr. Lloyd Williams and trained by Graeme Rogerson. Dean Watt's company Fengood P/L between 2001 - 2005 was the contracted racing manager and syndicator for the Graeme Rogerson stables during the same period of RESET'S racing career. RESET has since gone to stud and his oldest are foals of 2005. These will be sold in the yearling sales in 2007.
Despite the fact that DEAN WATT has "no business association" with Mr. Williams; RESET was not a syndicated horse and DEAN WATT had only an arms length association with RESET because of his work as the Racing Manager and Syndicator for the Rogerson Stables, we have been advised that to ensure we meet our regulatory requirements under the Class Order, its an ASIC requirement that we must declare this association.
WHY? Because should Dynamic Syndications buy any RESET yearlings (highly probable) we must have declared our association to the public ensuring "no conflict of interest" can be perceived.
Further, should we in fact purchase a RESET yearling, a specific clause would need to be inserted into the PDS also highlighting this association.
RESET is just one of many horses that are required to be declared under this arrangement. In fact ALL horses DEAN WATT had an association with when working as the Racing Manager / Syndicator for Graeme Rogerson between 2001 / 2005 to ensure we meet our regulatory requirements under the Class Order, must be declared.
These registerers are required by the ASIC from all AFS LICENCE HOLDERS to ensure protection to all subscribers.
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