Virtual | Demystifying Art World Anti-Money Laundering & Compliance Regulations
May 20 @ 11:00 am - 12:00 pm
11am ET | 10am CT | 8am PT
Anti-money laundering (AML) regulations are very much in play in the United Kingdom and throughout the European Union, putting more obligations on art dealers. While legislation regarding anti-money laundering for the US market is still uncertain, we live in a global age where art market professionals need to be aware of and understand regulations in different countries. Join us and expert panelists Susan J Mumford (CEO of ArtAML and former gallerist), Azmina Jasani (Partner, Art & Cultural Property Law Group), and Megan Noh (Co-chair, Pryor Cashman’s Art Law Group), and moderated by Eileen Kinsella (Senior Market Reporter, artnet News), for a discussion on these new regulations coming out of Europe, and the implications for international transactions when involved parties are on opposite sides of the Atlantic.
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About the Speakers
Azmina Jasani is a Partner in the Art & Cultural Property Law Group at Constantine Cannon and a leading art law and luxury assets specialist. She is valued by her clients for her “effective”, “diligent” and “straightforward” style and for her dual qualifications and experience in New York and London, which they deem “a real asset.” Azmina represents clients on a variety of matters, including disputes involving issues of authenticity, provenance, title and copyright as well as disputes relating to artist-gallery relations and looted or illegally exported cultural property. She is also often instructed by art and luxury businesses to help them comply with regulations pertaining to anti-money laundering, consumer protection, import and export, data protection, bribery and introductory commissions.
Azmina lectures at the Institute of Art & Law, Queen Mary School of Law, Sotheby’s Institute of Art and the Courtauld Institute of Art. She received her Juris Doctorate from the University of California, Berkeley School of Law and her B.A., summa cum laude, from Queens College, City University of New York.
Megan Noh co-chairs Pryor Cashman’s Art Law Group. With over 15 years of combined experience in private practice and both in-house legal and business positions in the auction world, Megan is sought after for her extensive knowledge of the complex issues impacting today’s art market, including specifically with respect to transactional matters and artists’ rights. Megan’s practice is uniquely holistic in its representation of members of almost every segment of the art market, and she is known for her ability to negotiate a transaction from both sides of its key issues—whether it’s an auction house consignment agreement, a museum exhibition loan agreement, or an artist-gallery representation agreement.
Susan J Mumford is a serial entrepreneur in the art market. Having arrived in the UK from the USA in 2000, she ran a gallery in Soho, London, from 2006-11. When the art world entered a new era following the credit crunch of 2008, she founded the Association of Women Art Dealers (AWAD), an international multi-chapter non-profit network connect women and women-identifying art dealers on a global basis. This was followed by the creation of Be Smart About Art, an online-accessible professional development platform that helps creative professionals thrive in a changing world. In 2018, she embarked upon ArtAML, which unites technology and art market know-how to help dealers keep dealing and buyers keep buying in the face of anti-money laundering legislation that hit the art market in 2020.
Eileen Kinsella (moderator) is a journalist who has been covering the international art market, and the intersection of art and finance, for more than 20 years. After starting as a news assistant on the national news desk of the Wall Street Journal in New York, she moved to the Money & Investing section of the paper where she wrote stories on commercial real estate, mutual funds, equity markets and investment trends. Kinsella joined the paper’s newly debuted “Weekend Section” in 1998 with expanded coverage of the art market, where she first started reporting on art.
Kinsella spent more than a decade at ARTnews magazine as a contributing writer and editor of a newsletter that covered a wide range of issues related to the international art market, including auction sales, gallery shows, and legal developments that impact issues of authenticity, ownership and international repatriation. She has covered numerous high-profile art-fraud related cases and trials and appeared as a guest on numerous CNBC art market news segments and its “American Greed” series, as well as BBC News, BBC Radio, NPR, Reuters, and numerous podcasts Artnet News’s own The Art Angle.
She has appeared on and moderated numerous art market panels around the world and made presentations on art crime including at New York University’s Visual Arts Administration Program, and at the Foundation for Appraisal Education (FAE’s) conference in Philadelphia in 2016. Since 2014, Kinsella has been senior market reporter for Artnet News, based in New York.
- Copyright The Financial Times Limited 2021. All rights reserved.
- Azmina Jasani, courtesy of Constantine Cannon
- Megan Noh, courtesy of Pryor Cashman
- Susan J Mumford, courtesy of the speaker
- Eileen Kinsella, courtesy of the speaker