New rules governing conflict of interest and inside information in the racing industry will be introduced in the wake of the More Joyous inquiry.

In reviewing the inquiry, Racing NSW says it has taken action to ensure there are appropriate rules dealing with the issues.

Among the new rules is one which makes it an offence for a licensed person to enter into agreement with a wagering operator that involves advertising, commentary or promotions with that person.

At the end of the More Joyous inquiry bookmaker Tom Waterhouse was put on notice to draw a line between his business and that of his mother, trainer Gai Waterhouse.

The high-profile inquiry was opened when John Singleton, the owner of More Joyous, made public allegations Tom Waterhouse had said More Joyous could not win the All Aged Stakes on April 27 in which she finished second last.

The bookmaker was cleared of any wrongdoing and Racing NSW chief steward Ray Murrihy said there was nothing to suggest he had passed on any inside knowledge regarding the condition of the mare.

Murrihy did however tell him to take care with his family association when advertising his business and to be mindful of public perception.

The new rules announced on Friday also make it an offence for a bookmaker to accept a bet on a horse if he or she has inside information about that horse.

Racing NSW has also called big punter Eddie Hayson to a hearing to show cause why he should not be warned off for refusing to name two people he said gave him information about More Joyous.

Hayson said he decided not to back the mare based on the information of those people, one of whom he said had a connection to the Waterhouse stable.

The new rules apply to local NSW racing laws but authorities are hoping to present them for consideration at national level.