The smell of money: the RAM Initiative proposals to a responsible art market

Abstract

The text presents the first translation for Portuguese and makes a brief commentary on the “Guidelines on combatting Money Laundering and Terrorist Financing” in the art market, written by the Responsible Art Market (RAM) Initiative, a Swiss platform that brings together important players from the international art market. Despite the lack of statehood and coercivity, these guidelines constitute a private model of very useful and creative self-regulation for this relevant sector of the economy, which still suffers from opacity and anomie and needs more compliance, good governance and accountability.