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US Bloodstock Agent Cullen Banned Until 2011

Wednesday, 18th November 2009

Lexington-based bloodstock agent Jim Cullen “has been banned from public auctions until at least 2011 for violating the bloodstock agent code-of-conduct as put forth by the Sales Integrity Program & the 4 major US auction companies,” reported thoroughbredtimes.com. Cullen is the 1st bloodstock agent suspended since the reformation of the Sales Integrity Program in 2007. Keeneland vice president Harvie Wilkinson said the “situation involved failure to disclose & pay sales proceeds to clients”. Sales Integrity Monitoring Committee chairman D.G. Van Clief said the suspension “is a sign the sales integrity push is working” & noted: “We are a watchdog to observe the marketplace & evaluate whether or not the new standards put in place are working or not. The recommendations wouldn’t have any teeth without the sales companies, who have the means of enforcement through their code-of-conduct & conditions of sale. I think this is a positive step. It shows the system seems to be working & there is recourse for people in the marketplace who feel they have been wronged.”

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