Italy Implements Regulations on Company Promising Art Investment Returns
Art galleries are increasingly offering art as an investment opportunity, but the legal landscape is evolving. Recently, the Italian financial regulator, Consob, suspended an offer by Art Invest Srl for selling paintings with a guaranteed 6.8% increase in value after 18 months. The company had not adhered to necessary regulations, highlighting the importance of complying with financial laws in the art market. Massimo Sterpi of Gianni & Origoni emphasizes the complexity of such investment structures and the need to adhere to commercial and financial regulations. The use of social media in promoting art investments is drawing attention from financial authorities, prompting crackdowns on such schemes. While the UK’s FCA has not taken similar action, experts believe it is only a matter of time before regulatory enforcement increases. Ultimately, it is advised to buy art for personal enjoyment rather than solely as an investment.
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Cillian O’Rourke, studied at the National College of Art and Design in Dublin, Ireland, where he majored in Visual Communication. His work spans graphic design, illustration, and branding, with a distinct minimalist style that emphasizes simplicity and impact. Cillian has collaborated with international brands and runs his own design studio focusing on creative solutions for startups.