Syndicator First Light Racing and its directors have been charged over their failure to disclose any actual or perceived conflict of interest in its product disclosure statements.

First Light Racing faces two charges laid by Racing Victoria stewards on Tuesday of making a false or misleading statement or declaration and a further charge of conduct prejudicial to the image, interests or welfare of racing.

Directors of First Light Racing Tim Wilson and Sam Kilkenny also face separate charges.

Each has two charges of improper, dishonest and/or dishonourable action or practice in connection with racing levelled against them along with two charges of making a false or misleading statement or declaration in connection with the administration or control or racing.

The charges stem from investigations by stewards into product disclosure statements issued by First Light Racing which may involve a conflict of interest.

The charges will be heard by the Racing Appeals and Disciplinary Board at a future date.