The Museum of Fine Arts, Boston (MFA) recently announced the closure of its Benin Kingdom Gallery and the return of two bronzes from its collection to the emperor of Benin, the Oba, in Nigeria. This decision underscores the...more
In July, the U.S. Senate introduced the Art Market Integrity Act (AMIA), legislation that would require art dealers and auction houses to comply with anti-money laundering and counterterrorism financing regulations under the...more
9/22/2025
/ AML/CFT ,
Anti-Money Laundering ,
Art Auctions ,
Art Collections ,
Art Dealers ,
BSA/AML ,
EU ,
Expropriation ,
Fine Art ,
Foreign Sovereign Immunities Act of 1976 (FSIA) ,
HEAR Act ,
Imports ,
Money Laundering ,
Paintings Sculptures and Engravings ,
Proposed Legislation ,
Statute of Limitations
The U.S. Senate proposes a new anti-money laundering legislation to regulate the art market and introduces an updated HEAR Act, an EU regulation seeking to combat illicit trafficking of non-EU cultural property takes effect,...more
9/19/2025
/ AML/CFT ,
Anti-Money Laundering ,
Art ,
Art Dealers ,
Bank Secrecy Act ,
BSA/AML ,
Cultural Artifacts ,
Due Diligence ,
EU ,
Foreign Sovereign Immunities Act of 1976 (FSIA) ,
Foreign Sovereigns ,
HEAR Act ,
Imports ,
Nazi Looted Art ,
New Legislation ,
Proposed Legislation ,
Statute of Limitations
In February, the Cleveland Museum of Art (CMA) announced that it would withdraw its lawsuit against the Manhattan District Attorney (DANY) for declaratory judgment that the museum was the rightful owner of a Greco-Roman...more
The question of how much diligence buyers must demonstrate may be considered in a new authenticity case brought recently in the Miami-Dade County Circuit Court against a Miami gallery for selling $6 million in fake Andy...more
1/30/2025
/ Art ,
Breach of Contract ,
Certificate of Authenticity ,
Consumer Fraud ,
Conversion ,
Counterfeit Goods Regulation ,
Express Warranty ,
False Statements ,
Fine Art ,
Fraud ,
Misrepresentation ,
Unfair Competition ,
Unjust Enrichment
A five-year legal dispute between heirs of the renowned artist Thomas Hart Benton and the trust department that administered and managed the Benton Trust produced a significant ruling last month in Jackson County, Missouri...more
1/27/2025
/ Asset Management ,
Banks ,
Beneficiaries ,
Breach of Duty ,
Copyright ,
Decedent Protection ,
Estate Planning ,
Fiduciary Duty ,
Financial Institutions ,
Fine Art ,
Heirs ,
Investment