Art Market
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Amber Alerts for Art Storage
- April 22, 2024
- Posted by: FCS Compliance
- Category: Art Market, News
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Amber Alerts for Art Storage Written by Rena Neville, Head of FCS Compliance – Art Division Are you an art market participant (AMP) storing works of art for the short or long term? If so, your obligations to proactively monitor and report suspicious activity have become much clearer since the UK’s National Economic Crime Centre
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Economic Crime Levy Increased for Largest UK AMPs
- April 10, 2024
- Posted by: FCS Compliance
- Category: Art Market, News
Economic Crime Levy Increased for Largest UK Art Market Participants (AMPs) Written by Rena Neville, Head of FCS Compliance – Art Division If you are an art market participant (AMP) with a ‘very large revenue’ as defined by the UK Government, then you need to be aware that HMG has increased the economic crime levy
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Update From The Financial Action Task Force (FATF) – October 2023
- January 24, 2024
- Posted by: FCS Compliance
- Category: Art Market, News, Property Market
Update From The Financial Action Task Force (FATF) – October 2023Written by Suzanne White AICA Cert (KYC/CDD), Senior AML Consultant – FCS Compliance In the international fight against money laundering The Financial Action Task Force (FATF) identifies jurisdictions with weak measures in place to combat money laundering and terrorist financing. They issue two documents 3
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Latest Fines From HMRC Are Impacting AMPs
- January 24, 2024
- Posted by: FCS Compliance
- Category: Art Market, News
Latest Fines From HMRC Are Impacting AMPsWritten by Rena Neville, Head of FCS Compliance – Art Division In October 2023, HMRC updated its list of Art Market Participants (AMPs) who have fallen short of meeting their Anti-Money Laundering (AML) obligations. The vast majority of the approximately 30 AMPs that have been fined failed to register
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HMRC Attending More Art Fairs…
- January 24, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog, News
HMRC Attending More Art Fairs….Written by Rena Neville, Head of FCS Compliance – Art Division The British art market is the second largest in the world. It comes after the US and before China. Given the size and population of the US and China, the UK punches well above its weight. One key feature of
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The UK Strengthens Enforcement of Trade Sanctions: Art Market Update
- January 24, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog, News
The UK Strengthens Enforcement of Trade SanctionsWritten by Rena Neville, Head of FCS Compliance – Art Division In early 2024, the UK is launching the Office of Trade Sanctions Implementation (OTSI) to combat anyone attempting to evade Russian trade sanctions. The aim is that the department will compliment the existing Office of Financial Sanctions Implementation
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Are interior designers intermediaries and do they need to register as Art Market Participants?
- January 24, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog
Are interior designers intermediaries and do they need to register as Art Market Participants?Written by Rena Neville, Head of FCS Compliance – Art Division Should interior designers register as Art Market Participants (AMPs)?It’s a seemingly simple question but as is often the case with anti-money laundering legislation – it depends. I have outlined three typical
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100s of AMPs tuned in to catch the live webinar
- January 18, 2024
- Posted by: FCS Compliance
- Category: Art Market, News, Promotion
100s of Art Market Participants (AMPs) joined in to catch the latest webinar from FCS Compliance – Art Division, on ‘Art & Antiques – AML in 2024 – What Changes to Expect to Money Laundering Regulations in the UK and US’. The UK portion of the event was presented by Rena Neville – Head of
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Meet Hannah Evans – Office Manager, FCS Compliance – Art Division
- January 10, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog
In this interview, FCS PR Director, Alison Blease introduces you to Hannah Evans – Office Manager, FCS Compliance – Art Division. Hannah Evans is the newest recruit to the FCS Compliance Art Division. She joined in August last year and splits her time between FCS and PAIAM (Professional Advisors to the International Art Market) –
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Meet Georgie Tarry – Account Director, FCS Compliance
- January 10, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog, Property Market
In this interview, FCS PR Director, Alison Blease introduces you to Georgie Tarry, Account Director at FCS Compliance. If you’ve ever called FCS or attended one of their outstanding AML training sessions, chances are you’ve either spoken to or met the person behind this newsletter’s profile. Georgie is one of the longest-serving members of the
