UNITED STATES

U.S. Supreme Courts Declines Certiorari in the 5Pointz Case
Two years ago, in one of the most important decisions applying the Visual Artists Rights Act of 1990 (VARA) since its adoption, New York’s Eastern District awarded $6.75 million in statutory damages to 21 street artists whose aerosol works were intentionally destroyed by the owner of the buildings on which they were painted. VARA gives artists the right to sue to prevent the destruction of a work of “recognized stature,” and to recover money damages if their work is distorted, mutilated or otherwise modified to the prejudice of the artist’s honor or reputation.
Continue Reading 5Pointz Artists Claim Final Victory as SCOTUS Denies Cert & Other Headlines

UNITED STATES

U.S. Senate Subcommittee’s Report Recommends Art Market Regulations
As part of its investigation into the effectiveness of sanctions against foreign persons and entities, the Permanent Subcommittee on Investigations of the United States Senate issued a report focused on lack of regulation and pervasive secrecy in the art market.
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Paris Dealer Charged with Fraud and Money Laundering in Sale of Golden Sarcophagus to the Met
French art dealer and Mediterranean archeology expert Christophe Kunicki was charged with fraud and money laundering in Paris following an investigation that began after the sale of a golden sarcophagus to New York’s Metropolitan Museum for €3.5 million in 2017.
Continue Reading Paris Dealer Who Sold Golden Sarcophagus to the Met Charged with Money Laundering & Other Stories

UNITED STATES

$6.75 Million Award for 5Pointz Aerosol Artists Affirmed on Appeal
Two years ago, in one of the most important decisions applying the Visual Artists Rights Act of 1990 (VARA) since its adoption, New York’s Eastern District awarded $6.75 million in statutory damages to 21 graffiti artists whose aerosol works were intentionally destroyed by the owner of the buildings on which they were painted.
Continue Reading $6.75 Million Award for 5Pointz Aerosol Artists Affirmed on Appeal and Other Headlines

BREAKING

UK Adopts Anti−Money Laundering Regulations for Art Dealers and Auction Houses
This January, the UK ratified new legislation that introduced, largely without modification, the EU’s Fifth Money Laundering Directive, which imposes new compliance obligations on art market participants.


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