- February 19, 2021
- Posted by: FCS Compliance
- Category: News
Industry experts assemble on 1 March to help UK art auctioneers prepare for the AML registration deadline
With the government deadline for Anti-Money Laundering (AML) registration fast-approaching, art industry experts are coming together in a live webinar at 5pm on Monday 1st March to help auctioneers get clarity on their legal obligations and practical advice on ensuring their firms are ready. Despite being brought under the scope of the Money Laundering Regulations in January last year, many auction houses remain insufficiently protected and under-prepared for the deadline on 10 June.
The event which is entitled Practical AML Guidance for Auctioneers, is free to attend and has been organised by Snoofa, a specialist auctioneering software firm, and partner FCS Compliance, a leader in AML service provision.
- Pandora Mather-Lees, Director, Pandora Art Services and Art Consultant, ArtOnSuperyachts.com
- Tom Christopherson, Art Law Consultant
- Jerry Walters, Managing Director, FCS Compliance
- Caroline Watson, Data Privacy Consultant, iCompli
- Sarah Buchanan, Director, Snoofa and Founder, Amati Auctions
Conducted via Zoom, attendees will have the opportunity to raise concerns and direct questions to the experts in a dedicated Q&A session.
Sarah Buchanan, Director at Snoofa and founder of Amati Auctions, said, “The spotlight has fallen on the art sector and auctioneers can no longer afford to push compliance down the priority list – the time to act is now. This webinar will focus on getting to the nuts and bolts of the matter and help attendees formulate a clear action plan for AML compliance by the government deadline.”
Jerry Walters, MD of FCS Compliance, who has over 25 years’ experience in financial fraud and crime enforcement, said, “Firms should be under noillusion about the potential consequences of compliance failure – not just the significant fines but also the reputational damage caused to a business.” Mr Walters added, “Quite understandably, the pandemic has forced many firms off-track when it comes to preparing themselves for AML scrutiny, however criminal activity remains ever-present in the industry and, as we have seen in other regulated sectors, whatever the business climate, HMRC will not refrain from taking action against non-compliant firms, large or small.”
Auctioneers interested in attending this webinar, can register here.
Title: Practical AML Guidance for Auctioneers
Time: 5pm to 6pm
Date: Monday 1 March 2021
Registration: Free to attend. Register here