Aug 18, 2021 | Guidance, Legislation and Policy
There are many individuals dealing in art who don’t yet realise that they’re Art Market Participants (“AMPs”) according to the Money Laundering Regulations (UK). Some surprising yet frequent examples include:- Interior designers- Art advisors / consultants whose...
Jul 2, 2021 | Guidance, Legislation and Policy
Many Art Market Participants are being asked to register people in the business they didn’t know were subject to the regulations. This screenshot from an Art Market Participant registration page on gov.uk provides important insight (see more tips below): What...
May 27, 2021 | Guidance, Legislation and Policy, News, Press, UK
In June 2019, ArtAML Co-Founders Susan J Mumford and Dr. Chris King participated in the HM Treasury Consultation for the Transposition of the 5th Money Laundering Directive into UK law. In the official response, they asked for clarity about the situation for artists....
Mar 19, 2021 | News, Press, UK
In recent weeks it has come to light that some art businesses may have misunderstood, and unknowingly be breaking, a key part of the latest anti-money laundering regulations. We were therefore more than happy to oblige when we were asked to contribute to artnet news’...
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...
