The Cask Whisky Association has just launched in the whisky sector which will protect buyers who buy and sell casks.
This new association is made up of two boards and advisors, including cask whisky businesses, distilleries, independent bottles and whisky experts, alongside legal and insurance professionals.
Colin Hampden-White, Chairman of the advisory board and spokesperson, states “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 states: “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 states “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.”
A full list of Cask Whisky Association members will be published in November.