Are you AMLD5 Ready? Creative United’s new, free training programme for Art Market Participants

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Are you AMLD5 Ready? Creative United’s new, free training programme for Art Market Participants AMLD5 and the Art Market is an Arts Council supported UK-wide programme offering practical advice to artists and art businesses to support them to understand, assess and respond to their obligations under the latest Anti-Money Laundering Directive AMLD5. What is AMLD5? Artists, galleries, dealers, auction houses and all other art businesses involved in selling artwork directly to clients through single or linked transactions above the price of £8.5k are now obligated to meet regulations under AMLD5. A breach could result in financial penalties or at worse, criminal prosecution. By 10 June 2021, ‘art market participants’ must register with HMRC and take the appropriate measures to ensure compliance. Is this training right for me and my art business? Even if you only make a few transactions a year at this value, you are required to be AMLD5 compliant and so it is valuable to ensure you understand your obligations fully. The regulations also have implications for charitable organisations that may be involved in transacting the sale of works of art for fundraising purposes from time to time. What help is on offer? Sign up now for our free workshops Join us for one of our overview sessions to find out more about AMLD5, how it might affect you, and what training will be most suitable for your needs. Our series of workshop sessions will focus on a specific area of AMLD5 compliance, such as due diligence, record keeping, and effective monitoring. Find out more about each session below. An introduction for businesses This training session is specifically catered to art galleries, dealers and auction houses and others. It will take place on 14 April 2021. An introduction for artists This training session is specifically targeted to the needs of artists. It will take place on 16 April 2021.   Conducting a Risk Assessment This session will focus on the obligation on art market participants to adopt a ‘risk based approach’ to preventing and detecting money laundering. It will take place on 21 April 2021. Conducting Customer Due Diligence This session will look at what due diligence art market participants must conduct in order to be compliant with AMLD5, offering practical advice on the steps needed to do so. It will take place on 27 April 2021. Nominated Officer & Reporting suspicious activity This session will look at roles & responsibilities of a nominated officer and how suspicious activity is reported. It will take place on 6 May 2021. Policies, Controls and Procedures This session will look at the obligations placed on Art Market Participants to have in place adequate policies, controls and procedures. It will take place on 12 May 2021. Fundraising and Donations This session will focus on how AMLD5 operates when an AMP receives donations or money from fundraising. It will take place on 18 May 2021. Sign up for free now Places are limited. The programme was designed and developed by Creative United, and is being delivered in partnership with Kingsley Napley LLP, with support from Arts Council England, the Arts Council of Northern Ireland and Creative Scotland. © 2021 Arts Intelligence Limited a company registered in England - number 3451166 VAT Registration number GB 740 8821 30 PO Box 1010, Cambridge, CB24 9WH, United Kingdom Telephone 01223 200200 | Email a...@artsprofessional.co.uk | http://www.artsprofessional.co.uk This email was sent to studionort...@gmail.com on behalf of Creative United by ArtsProfessional. To ensure that you continue receiving our emails, please add us to your address book or safe list. If you do not wish to receive ANY emails from ArtsProfessional, click here to be removed permanently from ALL of our mailing lists