May 17, 2021 | Guidance, Legislation and Policy, UK
One of the art market’s greatest concerns about anti-money laundering (AML) regulations is the potential loss of confidentiality surrounding clients. The obligation to reveal the identity of the buyer (ultimate beneficial owner or UBO in AML jargon) to another dealer...
Apr 6, 2021 | Guidance, Legislation and Policy, News, Press
What a difference a global sensation can make: ‘NFTs’ (non-tangible tokens) have gone from a relatively obscure acronym to a 24/7 obsession in the art world and beyond. While interested observers struggle to come to terms which what NFTs actually are and...
Jan 4, 2021 | Guidance, Legislation and Policy, Our solution
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...
Sep 2, 2020 | Guidance, Legislation and Policy, UK
Following the announcement that UK Art Market Participants have been given until 10th June 2021 to register with HMRC, what can you do to get ready? See tips below from the ArtAML Team. Be sure to note that the legislation is in force. To get support with secure and...
Aug 25, 2020 | Guidance, Legislation and Policy, News, Press, UK
The Government is to push back the deadline for businesses to register under the new Anti-Money Laundering (AML) regulations from January 10 to June 10 next year. The five-month delay comes in the wake of pandemic restrictions, giving art market and other firms more...
May 18, 2020 | Guidance, Legislation and Policy, Industry consultations + reports, Opinion, UK
In late Spring 2019, HM Treasury, as the UK governmental authority tasked with drafting legislation to implement the EU’s Fifth Money Laundering Directive with a deadline of 10th January 2020, conducted a Consultation on the transposition of the Directive into...
