UK: ARTISTS WILL NOT BE SUBJECT TO AML REGULATIONS

On 26 May, The Art Newspaper reported that, after lobbying from art organisations, the UK Government has made last-minute decision that creators who sell their work direct to clients will not be classed as “Art Market Participants” and will not therefore not be liable under the revised AML regulations.

https://www.theartnewspaper.com/news/artists-will-not-be-subject-to-anti-money-laundering-regulations-uk-treasury-says

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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