We frequently hear art market participants ask if money laundering is really an issue for the industry. While it’s still early days for the implementation of the 5th Money Laundering Directive that required member states (at the time including the UK) to bring in...
In order to carry out activities as an Art Market Participant in the UK, you need to register with HMRC. This is akin to an application process, as it is possible to be rejected. This has been experienced by some Art Market Participants we know who didn’t have...
The amendments to UK legislation implementing the 5th Anti-Money Laundering Directive were passed in UK Parliament on 20th December 2019 and took effect on 10th January 2020. At the time of writing, the official guidance[1] is yet to be published and clarity on how to...
