What's on the radar for 2011? Corruption and bribery!
According to the Huffington Post, The U.S. Foreign Corrupt Practices Act of 1977 has seen a steady increase in criminal sanctions over recent years. The U.K. Bribery Act will go into effect in the new year. However, the UK Act will be "far more draconian than its American counterpart."
Who should be wary of the new British legislation? Art dealers!
According to lawyer Pierre Valentin, as quoted by the Art Newspaper, the widespread practice of paying finders’ fees to individuals who bring in new business could constitute bribery under the new Act.
Dear Visitor,
We share your curiosity for art law. Thank you for reading our complimentary articles for the month. To read more free articles, please register for a free account. For even more access and perks, consider becoming a premium member!Already a premium member? Sign in
Or, become a premium member for unlimited access