Jockey Pat Cosgrave was handed a six-month ban but he appealed and the ERA reduced the punishment to four months on Monday. Suzanne Plunkett / Reuters
Jockey Pat Cosgrave was handed a six-month ban but he appealed and the ERA reduced the punishment to four months on Monday. Suzanne Plunkett / Reuters
Jockey Pat Cosgrave was handed a six-month ban but he appealed and the ERA reduced the punishment to four months on Monday. Suzanne Plunkett / Reuters
Jockey Pat Cosgrave was handed a six-month ban but he appealed and the ERA reduced the punishment to four months on Monday. Suzanne Plunkett / Reuters

Pat Cosgrave’s racing ban reduced to four months but still unpopular with jockeys’ body


  • English
  • Arabic

LONDON // The Emirates Racing Authority on Monday reduced the worldwide suspension of the rider Pat Cosgrave from six months to four, but the chief executive of the Professional Jockeys Association (PJA) in England believes the punishment remains too ­severe.

Cosgrave was handed the ban for "improper riding" after he came off the rail aboard Anaerobio in the Jebel Hatta on Super Saturday, March 8, a move that allowed stablemate Vercingetorix, also trained by Mike De Kock, an easy passage en route to a two-length victory in the Group 1 event at Meydan Racecourse.

Cosgrave appealed last week and Monday the ERA reduced his ban by two months. It now will end on July 16.

The Northern Irish rider also must forfeit his Dh1,500 deposit, bear the costs of the appeal panel members and split the costs with the regulatory body for th­­­­e transcribers at the hearing.

Paul Struthers, the PJA chief, said it is not clear from where the ERA rules on “improper riding” derive.

“Nobody else has ever been done for this before in Dubai and, as far as I am aware, no jockeys have ever been briefed there on this subject,” Struthers told The National.

“This is an unfair and, as yet, unexplained decision and we believe the appeal board has seriously erred in its judgment.”

The PJA released a statement in which it outlined “serious misgivings” about the rules and stewarding of the ERA, and that it could not be assured that jockeys would receive a fair hearing because of processes that were not fit for the purpose.

When contacted by The National regarding these matters, the ERA responded via email: “The Emirates Racing Authority declines to comment on the statements made by the Professional Jockeys Association.”

Cosgrave’s suspension is a global one, but the PJA intend to pursue the matter by lodging an application with the British Horseracing Authority to request they do not reciprocate the ban.

The PJA suggested that penalties for “improper riding” are not as heavy in other racing jurisdictions.

Last year, jockey Martin Dwyer was handed a 56-day suspension in India after the crowd at Mahalaxmi Racecourse in Mumbai rioted when his mount was narrowly beaten in a race as the favourite.

Dwyer’s ban was increased to eight months on initial appeal, but reverted to 56 days on a second appeal.

Dwyer took the ban to the BHA, who subsequently declined to reciprocate.

sports@thenational.ae

Follow our sports coverage on twitter at @SprtNationalUAE

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Zidane's managerial achievements

La Liga: 2016/17
Spanish Super Cup: 2017
Uefa Champions League: 2015/16, 2016/17, 2017/18
Uefa Super Cup: 2016, 2017
Fifa Club World Cup: 2016, 2017

MATCH INFO

Alaves 1 (Perez 65' pen)

Real Madrid 2 (Ramos 52', Carvajal 69')

Summer special
MATCH INFO

Championship play-offs, second legs:

Aston Villa 0
Middlesbrough 0

(Aston Villa advance 1-0 on aggregate)

Fulham 2
Sessegnon (47'), Odoi (66')

Derby County 0

(Fulham advance 2-1 on aggregate)

Final

Saturday, May 26, Wembley. Kick off 8pm (UAE) 

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

What is tokenisation?

Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets. 

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
What is an FTO Designation?

FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes. 

It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.

Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.

Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.

Source: US Department of State

UAE Falcons

Carly Lewis (captain), Emily Fensome, Kelly Loy, Isabel Affley, Jessica Cronin, Jemma Eley, Jenna Guy, Kate Lewis, Megan Polley, Charlie Preston, Becki Quigley and Sophie Siffre. Deb Jones and Lucia Sdao – coach and assistant coach.