- June 9, 2022
- Posted by: FCS Compliance
- Category: News
On Monday 27 June, leading experts from the newly formed Art Division at FCS Compliance will hold an important webinar for regulated art businesses to share practical advice on what to expect from an HMRC audit and how to prepare.
With HMRC inspectors set to target the fairs this season, this timely event aims to help the art market get AML compliant should the regulator get in touch. In addition, attendees will learn how best to deal with updated UK guidance since the Money Laundering laws went into effect in 2020 as well as how sanctions are affecting the marketplace.
Chaired by Ivan Macquisten, former editor of Antiques Trade Gazette, this complimentary event offers attendees the opportunity to ask questions and hear directly from a formidable line-up of AML experts whose collective expertise and years of experience working in the art market, for the FCA (Financial Conduct Authority) and the Police force ensures a concentrated hour of relevant insight, in-depth understanding and refreshing candour.
Time: 5pm to 6pm
Date: Monday 27 June 2022
Registration: Free to attend
The expert speaker line-up includes:
- Ivan Macquisten (Event Moderator) – Former editor of Antiques Trade Gazette, Independent Consultant and Director of ImacQ
- Rena Neville, Lead AML Consultant, FCS Compliance Art Division and Founder, Corinth Consulting
- Malcolm Driscoll, Lead AML Consultant, FCS Compliance
- Paula Trommel, Senior AML Consultant, FCS Compliance and Deputy Director, Corinth Consulting
“The art market must be confident in their compliance status and be prepared for AML scrutiny. HMRC have started auditing and imposing penalties on non-compliant art businesses and doubtless their attendance at the art fairs will be next. It’s also important to note that there is a level playing field at UK art fairs, meaning that international galleries in attendance must also comply with the UK ML regulations, such as registering with HMRC and having an AML programme.”
“Sanctions, in response to Russia’s invasion of Ukraine, affect art market transactions across virtually all collecting categories, even those beyond the scope of the Money Laundering Regulations, such as sales of decorative arts, jewellery and watches.”
“Even if only one sale a year triggers the UK money laundering regulations, the art gallery or advisor must register with HMRC and adopt an AML programme.”
For more information and to secure your FREE place, please click here.