By Anna Brouver
No News – Good news?
There is nothing surprising about the fact that the art market gets more and more regulated. The call for “art market transparency” after decades (if not centuries) of handshake deals and painting examinations in bank vaults suggests regulations designed specifically for the arts sector that would require due diligence of the participants and help combat money-laundering and terrorism financing. While the EU and the US have already introduced specific rules and duties for art market participants with the publication of its 5th Anti-Money Laundering (“AML”) Directive and the 2020 revision to the Bank Secrecy Act, the art market in Switzerland is still unregulated. This article examines the art market compliance in the EU and Switzerland.
Directives, directives, directives
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