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  • Business,  Law

    The UK’s AML Supervisor for the Art Market Is Dishing Out Fines and Government Audits

    22 June 2022 / No Comments

    Last year HMRC revamped and improved its ‘perimeter policing’ process which is used to identify AML-regulated businesses that are trading while unregistered for anti-money laundering supervision. As of the new financial year on 6 April 2022, art market participants (AMPs) that are found to be trading without registration, or late to register, may be fined or prevented from further trading…

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    artandcounsel
  • Business,  Culture

    These Art Tech Start-Ups Are Proving Why Blockchain Is Still Valuable to The Art Market

    22 January 2021 / No Comments

    The onset of Covid-19 saw art galleries, fairs, museums and auction houses sprint to adopt augmented reality ("AR") for online-only sales, virtual viewing rooms and exhibitions (note the bizarre success of a Sotheby's cyber auction which sold Michael Jordan's old Air J'z for $560,000 despite a global health crisis). A significant number of beta stage art tech companies are now…

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    artandcounsel
  • Business,  Law

    The UK Has Left the EU – What Does the New Trade Deal Mean for the British Art Market?

    8 January 2021 / No Comments

    As of 1 January 2021, European Union law ceased to apply to the United Kingdom. Since the pair’s acrimonious split in 2016 – with the UK formally packing its bags on 31 January 2020 – the bitter exes have been haggling as to a mutually acceptable trade agreement by the end of the transition period on 31 December 2020. But…

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    Lizzy Vartanian Collier
  • Business,  Culture,  Law

    Blockchain x Art: More Tech Start-Ups Disrupting The Art Market

    8 January 2021 / No Comments

    This piece is the second in a two-part series that explores the potential art-world impact of blockchain. Read Part I to find out what blockchain is, what NFC is and why art market participants should care. LEGAL COMPLIANCE Legal compliance may also incentivize art businesses to utilize blockchain platforms. In a 2019 article titled ‘Fine Art Certificates of Authenticity: Are…

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    artandcounsel
  • Business,  Law

    Sotheby’s Motions for Dismissal of New York Attorney General’s Tax Fraud Complaint

    29 December 2020 / No Comments

    Sotheby’s has launched its rebuttal against New York’s Attorney General in the state’s Supreme Court after the NY AG filed a complaint against the auction house for “fraudulent avoidance of sales tax“. The 27-page memo seeks to dismiss the complaint – using a plethora of case law and statute – arguing that NYC AG Letitia James “fails to allege facts…

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    artandcounsel
  • Business,  Law

    The State of New York Has Sued Sotheby’s For Enabling Sales Tax Fraud

    7 November 2020 / No Comments

    New York’s Attorney General, Letitia James, has filed a lawsuit against Sotheby’s in the state Supreme Court for enabling a major client of the auction house to evade taxes.  According to court files, the client, a contemporary art collector who resides outside of the U.S. and runs a shipping business, illegally obtained tax exemption certificates on art purchases exceeding $27…

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    artandcounsel
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LATEST NEWS

  • Jun 22, 2022 The UK’s AML Supervisor for the Art Market Is Dishing Out Fines and Government Audits
  • Jul 30, 2021 New Serpentine Galleries Report Reveals Only 44% of Those Involved in Art + Tech/ Science Collaborations Adopt Written Contracts
  • Jun 09, 2021 Why Artworks Using a Celebrity’s Image Could Be Legally Actionable
  • Apr 28, 2021 Are Contracts The Stepping Stone to Fairer Terms for Artists?
  • Feb 08, 2021 Droit De Suite: The Absence of an Artist’s Resale Royalty in the United States

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  • Last Year's Legislative U-Turn Is Gradually Eroding UK Art Market Secrecy
    Last Year's Legislative U-Turn Is Gradually Eroding UK Art Market Secrecy
  • The UK's AML Supervisor for the Art Market Is Dishing Out Fines and Government Audits
    The UK's AML Supervisor for the Art Market Is Dishing Out Fines and Government Audits

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