compliance Archives

Supervised Business Register (UK): Is your/another business registered as an Art Market Participant to legally transact?

Aug 2, 2024 | Guidance, UK

Find out if your business – or a colleague with whom you’re doing business, has successfully registered for Money Laundering Supervision. Why is checking the Supervised Business register important? Download the latest Register of Supervised Businesses by...

High-risk jurisdictions for Art Market Participants: Why does this matter and how do you get answers?

Mar 4, 2024 | Guidance

Risk guidance published by HMRC* highlights the importance of identifying if funds have come from a high-risk jurisdiction, in context of art transactions. Why is knowing what locations are flagged as high-risk important? The ArtAML™ platform automatically checks for...

Introducers vs. Intermediaries: Are you caught as a UK Art Market Participant?

Feb 10, 2023 | Guidance

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,...

Do non-UK art businesses need to register for UK-based AML Supervision if transacting at art fairs?

Oct 11, 2022 | Guidance

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...

Risk Assessment and AML Policy: A legal requirement for Art Market Participants

Aug 24, 2022 | Guidance

In our view, the intention of AML legislation is two-fold:1 – Preventing your business from being the target of money laundering / terrorist-financing activities; and2 – If your business is targeted, being able to identify it (and thereby report it to...