Posted on: July 20, 2021 by Emily Gould and Alyssa Weitkamp
On 28th June, the UK Government published further guidance on the application of anti-money laundering (AML) rules to the UK art trade. As many readers will be aware, since January 2020, anti-money laundering regulations have applied to art market participants, or AMPs (traders or intermediaries involved in the sale or purchase of works of art […]
Posted on: March 10, 2020 by Julia Rodrigues Casella Hommes
The highly anticipated guidance on implementing and complying with the new anti-money laundering rules for the art trade was finally released a few weeks ago. The lengthy document, which totals over 100 pages, was in fact prepared by the British Art Market Federation (BAMF), and has received formal approval by the HMRC. As such, it […]
Posted on: January 14, 2020 by Alexander Herman
Like we did last year, we are keen to use this opportunity to have a look at what lies ahead. For one, 2020 seems to offer much change for the art world on the regulatory front. This is bookended by two major changes in the UK (and indeed across Europe) that have their source in […]
Posted on: January 10, 2020 by Julia Rodrigues Casella Hommes
Important changes are imminent for the art market as the 5th EU Anti-Money Laundering Directive enters into force in the UK this Friday, the 10th of January 2020. The directive has been hurriedly transposed into UK law through the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, which were laid before Parliament on the 20th […]