ANTI-MONEY LAUNDERING

Duplex Art Capital  is proud of our longstanding client relationships and our core values of integrity, trust and transparency that we enjoy with all our clients and partners.

At Duplex Art Capital we are highly committed to complying with all applicable legislation intended to prevent money laundering and terrorist financing and as such we welcome the new USA and EU legislation regarding Anti-Money Laundering and consider it as a positive step for our industry.

The UK Fifth Money Laundering Directive (5AMLD) came into effect on 10th January 2020, and participants operating in the art market both in the UK and the rest of Continental Europe will be captured within the scope of this legislation. As such the Duplex Art Capital group of companies (Duplex Art Capital llc.) now becomes a regulated entity for anti-money laundering purposes. Adopted under USA and UK law, the enforcement will be carried out by HMRC in the UK, and USA.

The legislation is mandatory and currently requires verification of the identity of clients when selling or acquiring works of art and jewellery. These principles will apply to all clients, whether existing or new; for the avoidance of doubt any client of Gurr Duplex Art Capital including those in the Americas, Europe, Middle East and Asia is included under this new directive. The checks required and the records that we must keep are like the Know Your Client ‘KYC’ that is the norm in other regulated markets across the globe, especially by law firms and banks, and should be familiar to everyone.

Please be confident that all personal data will be held securely and managed in accordance with current data protection legislation. Refer to our Privacy Policy on this website.

If you have any questions, please feel free to get in touch at policies@duplexartcapital.com

Having said that, Terms and Conditions (“T&C”) are a set of legally binding terms defined by you, as the owner of this website. The T&C set forth the legal boundaries governing the activities of the website visitors, or your customers, while they visit or engage with this website. The T&C are meant to establish the legal relationship between the site visitors and you as the website owner. 

 

T&C should be defined according to the specific needs and nature of each website. For example, a website offering products to customers in e-commerce transactions requires T&C that are different from the T&C of a website only providing information (like a blog, a landing page, and so on).     

 

T&C provide you as the website owner the ability to protect yourself from potential legal exposure, but this may differ from jurisdiction to jurisdiction, so make sure to receive local legal advice if you are trying to protect yourself from legal exposure.

Generally speaking, T&C often address these types of issues: Who is allowed to use the website; the possible payment methods; a declaration that the website owner may change his or her offering in the future; the types of warranties the website owner gives his or her customers; a reference to issues of intellectual property or copyrights, where relevant; the website owner’s right to suspend or cancel a member’s account; and much, much more. 

 

To learn more about this, check out our article “Creating a Terms and Conditions Policy”.