Art market, integrity and due diligence in Brazil and MERCOSUR cultural

Abstract

The present article aims to offer some reflections about due diligence in the art market, exploring its concept, its historical evolution, its applicability in Comparative Law, and especially its use in Brazilian Law and Mercosur Law. Although Due Diligence is a well-known institute applied in the civil and domestic legal fields, there is a growing demand in the international art market, being encouraged and valued by several non-governmental organizations and public bodies from many countries and regions. Brazil has been giving increasing importance to due diligence (and its connections with compliance and good governance) in the art market, especially in the last decade. One can underline the enactment of Law 13,608, of January 10, 2018, and the publication of IPHAN Ordinance 396/2016, both related to Law 9,613 of March 3, 1998, which for twenty years has been improving the fight against money laundering in the national territory. Contrario sensu, the use of due diligence in the cultural context of MERCOSUR is still discrete. In line with international concerns, it is necessary to improve the guidelines to safeguard trade relations involving cultural heritage in the bloc’s territory.