Money Laundering and the Art Market: What art market participants should do now to comply
13.00 - 14.00, Tuesday 25 May
Since 10th January 2020, art market participants who deal in sales, purchases and/or storage of works of art with a value, for a single transaction or a series of linked transactions, of 10,000 Euros or more, have been subject to further anti money-laundering obligations pursuant to the Money Laundering Regulations 2017. With the 10th June 2021 deadline for art market participants to register with HMRC as the designated supervisory authority now fast approaching, our experts Gregor Kleinknecht from Hunters Law LLP and Susan J Mumford and Chris King from ArtAML will provide a timely reminder of what is now expected from art market participants, an update on how to comply, the latest guidance and practical solutions.
Gregor Kleinknecht is a partner at Hunters Law LLP, specialising in art and cultural heritage law, and a mediator and arbitrator with ArtResolve, the dedicated dispute resolution service for art and cultural heritage claims. He conducts both transactional and dispute resolution work for a wide range of national and international artists, collectors, galleries, dealers, auctioneers, art consultants, funding organisations and landed estates. Gregor also advises and has successfully acted for claimants in Holocaust restitution claims.
Susan J Mumford
After a decade operating as an art dealer and adviser, American entrepreneur Susan J Mumford has built a career providing solutions for the art industry, based out of Lewes, East Sussex. She's also Founder & CEO of the Association of Women Art Dealers (AWAD). A keen amateur gardener, she can often be found in the garden with her hands in the soil.
Dr. E. Chris King
Dr. E. Chris King is an experienced software developer with 25 years' experience in the financial sector. His most recent work has been developing cutting edge onboarding and KYC solutions. He spends his free time pursuing fine art photography (represented by the Ivy Brown Gallery, New York) and making jewellery.