Step 2

RELIANCE REQUEST

We invite you (the “Third Party”) to carry out Customer Due Diligence (CDD) on behalf of Rose Hurst London (the “Relying AMP”) in accordance with Regulation 39 Reliance on third parties.
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The Third Party will provide assurances in regards to the transaction through this Reliance Report which will allow the Relying AMP to carry out a Customer Risk Assessment (5.192), determine what CDD measures have been carried out (5.198) and to what level (5.202) on the Ultimate Beneficial Owner (UBO) the “Customer”

The Third Party

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As an Agent, the Third Party provides the following assurances

We are an AMP as defined by The Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017, or we are subject to and supervised for compliance with CDD and record keeping requirements equivalent to those laid down in the 4th Money Laundering Directive.

We are acting as an agent for the Customer in relation to this artwork.

We are authorised to act on behalf of the Customer

We have conducted CDD on the Customer

We consent to you relying on CDD and will retain records for 5 years

We can provide immediately on request any copies of information obtained for CDD purposes

We do not have reason to believe that the work(s) of art has been stolen and have carried out a lost or stolen art database checks

The Customer

Our CDD process revealed that the Customer presents a low-risk profile and they are not under investigation, charged or convicted of Money-Laundering or other crimes

Where applicable and a possible risk was identified, Enhanced Due Diligence was performed to determine it was safe to proceed with the transaction. We have evidence to support this decision on file and can provide it if requested.

We do not believe the funds used by the Customer to pay for the purchase of the works are connected to illicit or unlawful activity

The Customer’s country of Citizenship is not a high-risk 3rd country

Full name and date of birth provided

Identity Verified

ID Documentation provided, collected and stored

Proof of Address provided and stored

Documents were reviewed

Due Diligence & Screening

Politically Exposed Persons Screening Conducted

Sanctioned and or High-Risk Screening Conducted

Notes & Attachments

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