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Compliance for art & luxury businesses

ABOUT RAKHI TALWAR

I am a Brighton based lawyer and independent compliance consultant who thrives on helping businesses succeed at ‘doing the right thing’.  I am passionate about developing compliance programmes to the perfect point where compliance not only protects business, but also enhances reputation and attracts commercial opportunity. 

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Rakhi was the perfect compliance partner for Lisson while we implemented our AML Policy. She brings practical expertise and provides clear advice whilst always being mindful of the commercial realities and the need to make things as simple as possible for our sales team and our clients. Adam FredmanFinance Director, Lisson Gallery

A motivated compliance leader who combines vision with precision and above all, a ‘can do’ attitudeSophie CarterGlobal Head of Legal & Risk, Christie’s

Rakhi is a trusted and insightful compliance leader who sees what needs doing and delivers workable, innovative solutions. She’s a pleasure to work with and a valuable asset to any team.Maud HaleDirector, American Express

Whatever the problem, Rakhi has an uncanny way of seeing and bringing about the ideal end result with clarity, focus and persuasiveness. Definitely the person you want on side.Steven FrancisPartner, Financial Regulation, Addleshaw Goddard

No-one in the art business has greater experience of developing and operating an anti-money laundering compliance programme than Rakhi Talwar. She manages to combine a deep practical understanding of the particular needs of the art business with a thorough knowledge of the law. She provides practical solutions and is a pleasure work with.Martin WilsonChief Legal Counsel, Phillips Auctioneers

Rakhi provided us with invaluable guidance throughout our AMLR risk assessment and during the implementation of our AMLR policies. Her responses to our questions are invariably prompt, clear and concise.Roxana AfsharGallery Director, MLRO, Waddington Custot

Rakhi Talwar has run the SLAD Anti Money Laundering helpline since September 2020. She has also drafted a “toolkit” providing practical guidance for our members and those of our fellow trade associations, BADA and LAPADA, on how to comply with the regulations and provided training for a number of our members. I have been very impressed, not only by her thorough understanding of the AML regulations, but by her practical good sense and ability to explain the regulations and the obligations they impose to those concerned.Christopher BattiscombeDirector General, Society of London Art Dealers

Highly recommended. Extremely knowledgeable and professional. Great ability to bring clarity to what is a complex field of understanding the AML regulations. We had great feedback from staff on the training received, advising that Rakhi gave them confidence in understanding exactly what is required, not only in her presentation, but also the documentation that she provided in ensuring that the Company met all its needs with regard to AML in a clear and concise form.Angela TrevattCompany Secretary and MLRO, Marlborough Gallery

Paying for Art With Cryptocurrency

Art dealers have been asking me whether it is okay to accept cryptocurrencies such as bitcoin as payment for art sales.  Everyone knows it is nigh on impossible to trace bitcoin to an owner and this is understood to be the position for most cryptocurrencies.  It is this feature of ‘pseudonymity’ which makes crypto money…

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MLROs – Protect Your Assets

MLROs of newly regulated art businesses are rightly worrying about the personal risks they face if they fail to ensure compliance with anti-money laundering regulations. They often ask what they can do to protect themselves if things go wrong. I asked Steven Francis, a Partner at Addleshaw Goddard who advises businesses on ongoing or anticipated…

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When AML Compliance Transgressions Come Back to Haunt Us

My most animated discussions with clients centre around AML compliance transgressions. Here are my insights on the three questions that art dealers ask most frequently. Where are we most at risk of tripping up?The most obvious risk comes from basic compliance failures such as not having a written risk assessment, policies and procedures, poor customer…

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For further information and advice on how to prepare for the new legislation, please get in touch.