ArtAML Compliance Training & Support
As part of the regulatory regime in the UK (which is anticipated to be replicated in the upcoming US version), all art market participants ("AMP") are required to designate a senior executive at the business to serve as its Nominated Officer. The Nominated Officer is responsible for ensuring that the AMP is in full compliance with its reporting, record-keeping, customer due diligence/ know-your-client (KYC) obligations under the art anti-money laundering laws.
Under the applicable statute it the UK, an art market participant (AMP) required to comply with the anti-money laundering regulations includes gallery owners, art dealers, art consultants, and any other person who acts as an intermediary in the trade or purchase of works of art where the value of the transaction, or linked transactions, is 10,000 euros or more.
Hrbek Law attorneys can advise AMPs on their local compliance obligations in the UK or US, as well as provide training and support for Nominated Officers (UK) and Compliance Officers (US).