On February 4, 2022, the Treasury Department published its Study on the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art (the “Report”).[1] To the surprise of many and the relief of the U.S. art market, the Report concluded that there was no immediate
Continue Reading U.S. Treasury Study Rejects Immediate Need for New Regulation of Art Market
On June 1, 2021, Michael McLeer, a New York City-based street artist who goes by “Kaves,” filed a putative class action in the Eastern District of New York against the New York City Police Department (“NYPD”) and the City of New York.[1] McLeer alleges that the NYPD’s graffiti cleanup
Continue Reading American Graffiti: Artist Moves to Protect Street Art Across New York City
On November 2, 2020, Judge Allyne Ross of the Eastern District of New York dismissed copyright claims brought by Danish photographer Michael Barrett Boesen against a sports website for its use of an Instagram post by former top-ranked tennis star Caroline Wozniacki that itself used a photograph by Boesen.[1]
Continue Reading Defendant Prevails on “Fair Use” of Embedded Instagram Post
On October 30, 2020, the U.S. Department of the Treasury, Office of Foreign Assets Control (“OFAC”), which administers and enforces American economic sanctions, issued an advisory titled “Advisory and Guidance on Potential Sanctions Risks Arising from Dealings in High-Value Artwork” (the “Advisory”). OFAC considers “high-value” any artwork valued at over
Continue Reading OFAC Issues Advisory on Sanctions Risks in Dealing with High-Value Artwork