Mar 9, 2023 | Guidance, Legislation and Policy
The British Art Market Federation (“BAMF”) Guidance was updated for UK Art Market Participants (“AMPs”) on 6th February 2023. HM Revenue & Customs (“HMRC”) as regulator sent an email update with key changes to AMP businesses registered for supervision. The list of...
Mar 9, 2023 | Guidance, Legislation and Policy, UK
The UK Money Laundering and Terrorist Financing Regulations 2019 took effect on 10th January 2020 which introduced ‘Art Market Participants’ (“AMPs”) as a new obliged entity. Does your business need to comply?The definition of AMPs according to...
Feb 24, 2023 | Guidance, Legislation and Policy
The UK regulator for Art Market Participants (“AMPs”) is now visiting art fairs as well as conducting full interventions of regulated art businesses. Art fair visits If you’ve recently exhibited at an art fair in the UK, you might have met one of the...
Feb 10, 2023 | Guidance, Legislation and Policy
Do you think that you – or a colleague, are not caught as an Art Market Participant (“AMP”) because you or they are only acting as an introducer in transactions? If taking an active role, including an introductory one, and receiving financial value,...
Oct 25, 2022 | Guidance, Legislation and Policy, News
In April 2022, ArtAML was made aware that a gallery was receiving a penalty for late registration as an Art Market Participant (“AMP”). The gallery had only learned of anti-money laundering for the art market in early 2022 and promptly registered. Since...
Oct 11, 2022 | Guidance, Legislation and Policy
Think that anti-money laundering that has hit the art sector doesn’t apply to your business, as you’re an overseas dealer presenting at a UK fair? Think again – including if you’re based in the European Union. The downloadable guide provided in...
