A new trade association has launched in the whisky sector to protect people who buy and sell casks.
The Cask Whisky Association is made up of two boards of members and advisors, including cask whisky businesses, distilleries, independent bottles and whisky experts, alongside legal and insurance professionals.
Chairman of the advisory board and spokesperson, Colin Hampden-White, said the CWA’s goal is to uphold the overall reputation of the Scotch whisky industry.
“The Cask Whisky Association exists to protect private customers from unscrupulous business practices and traders, and safeguard independent bottlers from over-inflated pricing,” he said. “Our members are committed to, and will provide guidance on, best practice.“
Wendy Chamberlain MP, chair of the Scotch whisky All Party Parliamentary Group, has today written to the business minister responsible for the digital markets, competition, and consumers bill, seeking clarification on whether the new consumer legislation will increase protections for investors in cask whisky. She said in the letter: “Having met with the Cask Whisky Association, I am aware that there are many reputable organisations who want to provide good investment opportunities to enthusiasts and investors alike. The actions of bad actors in this field risk harming not only consumers, but the reputation of Scotch whisky and the long-term viability of the industry as a whole.”
The association has also met with Lord Richard Harrington – who is leading the government review of foreign direct investment. Harrington said: “This type of cross-industry collaboration is welcomed. Where blind spots in regulation exist, such as in the cask investment space, it is encouraging to see different parts of the industry coming together to address the issues that emerge. Scotch is a true British success story so measures must be put in place to protect the integrity of the sector.”
According to the CWA website, a full list of members will be published in November.