Jan 16, 2025 | Policy + Consultations, USA
At some point in the near future, U.S. companies will be required to file initial beneficial ownership reports with FinCEN (Financial Crimes Enforcement Network, a bureau of the U.S. Department of the Treasury). Deadline While the original deadline to file was...
Mar 9, 2023 | Guidance, Policy + Consultations
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, Policy + Consultations, 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...
Sep 21, 2022 | Guidance, Policy + Consultations
The British Art Market Federation (“BAMF”) Guidance was updated for UK Art Market Participants (“AMPs”) on 30th June 2022. HM Revenue & Customs (“HMRC”) as regulator sent an email update with key changes to AMP businesses registered for supervision. The list of...
Sep 20, 2022 | Guidance, Policy + Consultations
This article aims to update Art Market Participants (“AMPs”) on key updates and clarifications, explain a shift in emphasis to take a risk-based approach, and to help industry players understand what is legally required to meet compliance requirements....
Feb 6, 2022 | Guidance, Industry consultations, News, Opinion, Policy + Consultations, USA
At last, the findings from the 2021 U.S. study on the potential application of anti-money laundering in the art sector have been published. This article accordingly highlights top-level insights from the U.S. Treasury’s 40-page ‘Study of the Facilitation of Money...
