Updates to Guidance
How Do I Work With Intermediaries?
Recently BAMF (The British Art Market Federation) published updated guidance regarding money laundering regulations, citing changes to the ways galleries work with intermediaries such as advisors, other galleries and auction houses.
Under the new guidance there are now select instances in which a registered art business working with an intermediary (such as an advisor) does not have to conduct due diligence on the ultimate beneficial owner (the advisor’s end client).
However it is important to note that this is only as long as certain requirements are met by the intermediary brokering the transaction.
Therefore the event will cover the following:
Arcarta is a Due Diligence platform for the art market and is used by over 300 Art businesses internationally.
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