Art dealers in the United Kingdom must abide by a new law that targets money laundering in the art market. The legislation has introduced a new set of regulations that require galleries, auction houses, and freeport operators to verify the identity of clients who are involved in transactions that are 10,000 euros ($11,000) of more and to report any suspicious activity to the government. The Money Laundering and Terrorist Finance Amendments Regulations 2019 were passed by Parliament before Christmas and are part of a larger EU campaign directive, which also aims at making cryptocurrencies and rental properties more transparent.
“There is going to be quite a significant change in the way that business is done in a number of organizations that is contrary to a lot of the current market practices,” Kenneth Mullen, of the intellectual property and technology team at the London-based law firm, Withersworldwide, told Artnet. The International Confederation of Art and Antique Dealer Associations is among those opposed to the new regulations, which it has described as “disproportionate,” “difficult,” and “burdensome for both collectors and dealers.” Erika Bochereau, the secretary general of the confederation, fears that they will deter people from buying art.
Pace Gallery has announced its representation of Brazilian artist Beatriz Milhazes. Known for her vibrant, geometric, abstractions, collages, prints, and paintings which feature floral motifs, concentric shapes, and arabesques and merge Brazilian and European traditions, Milhazes is a leading member of the Geração 80 (80s Generation) group that embraced painting over the conceptual practices of the 1970s.
“Milhazes’s acrylic paintings have the surging, breathtaking rhythm of a good fireworks display,” Philip Auslander wrote in a review for the November 2001 issue of Artforum. “Explosions of intense color combine and overlap without losing their own distinctive character. . . .Milhazes embraces mods that might become kitschy or corny in less adroit hands. She exhibits the same fearlessness with respect to cultural stereotypes.”
Milhazes is also represented by Fortes D’Aloia & Gabriel (Brazil and Lisbon), Max Hetzler (Berlin, Paris, and London), and White Cube (London and Hong Kong).
Next weekend, A.I.R. Gallery will host its first Feminist & Queer Art Book Fair, which aims to “offer space for artistic experimentation, prioritize feminist and queer histories, and facilitate intergenerational dialogue.” The fair, which will be free for both participants and the public, will take place from 12 PM to 7 PM on Saturday, January 18. Participating publishers and book artists include Belladonna, Dancing Foxes Press, GenderFail, Litmus Press, MOMMY, Pinsapo Press, Precog Magazine, Siglio Press, Visual AIDS, and WW3 Illustrated.