AML AND THE ART AND ANTIQUITIES MARKET – A US AND UK PERSPECTIVE

On 20 January, an article from law firm Mishcon de Rey takes a look at the key differences in terms of the position in the US and UK.  It summarises proposals in the US to introduce AML regulation to the art and antiquities market, notably via the Anti-Money Laundering Act 2020 in the US, which expands the definition of financial institutions under the Bank Secrecy Act 1970 to include “a person engaged in the trade of antiquities…”, together with the proposed ENABLERS Act, which would impact the wider art market.

https://www.mishcon.com/news/anti-money-laundering-and-the-art-and-antiquities-market-a-us-and-uk-perspective

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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 View all posts by raytodd2017