News

The British Art Market Federation (BAMF) publishes new guidance on anti-money laundering

  • February 07, 2020
  • By Gregor Kleinknecht, Partner and Petra Warrington, Senior Associate

The British Art Market Federation (BAMF) has published its guidance (see here), approved by HM Treasury, on anti-money laundering for UK Art Market Participants.

This has been eagerly awaited by the art market since The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 came into force on 10th January 2020.

Watch this space for further commentary and analysis from our art team on the BAMF guidance and what the Regulations mean for dealers, auction houses and other art market participants.

 

Gregor Kleinknecht has particular expertise and a leading practice in art & cultural heritage law. Gregor is also a mediator and arbitrator with Art Resolve, 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, and advises and has successfully acted for claimants in Holocaust restitution claims. The Legal 500 directory describes Gregor as a “standout partner and litigation specialist” and a “tough litigator” in art & cultural property and the Chambers directory describes him as “one of the few I would think of as being an art market specialist” and praises his “enormous skill with art law, and his ability to handle difficult art legal issues with immense presence and skill

Petra Warrington specialises in the art and antiques market, acting on behalf of private collectors, artists, trustees, dealers, galleries and auctioneers. This often involves issues of title, history, provenance or authenticity of works of art and cultural property, as well as advising on the acquisition and sale of collections, import and export matters, loan documentation and terms and conditions of business.

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