OFSI has updated its suite of guidance materials to include specific guidance for high value dealers, luxury goods markets and art market participants. The guidance includes information on popular circumvention typologies that firms should be aware of and the risks these present. It then outlines reporting obligations, licensing applications and how OFSI applies its enforcement and penalty policies. It gives examples of what it considers good due diligence looks like.
OFSI publishes high value dealer guidance
Scales of Justice ( Lady of Justice) of the Central Criminal Court fondly known as The Old Bailey in the city of London, England, UK