The Regulation of the Art Trade for Anti-Money Laundering in the EU
Certain types of businesses fall within the regulated sector for EU anti-money laundering, such as banks, wider financial institutions, law firms, accountancy businesses and estate agents. Luckily for the British art market, the British government has not invited auction houses and art/antique dealers to join the club. Auction houses and art/antique dealers in other EU Member States have not been so lucky. Being in the regulated sector for money laundering carries a compliance burden that should not be under-estimated. Businesses