SERVING AS MEMBERS OF GOVERNANCE BODIES

Collectors may be appointed as members of Governance Bodies of Institutions based on their expertise, experience, knowledge, competence, ability to advocate for the Institution, and other substantive art-related skills. They accept the appointment and perform the related activities in the interest of the Institution, without expecting any direct counterpart for themselves or their collection.
1

MERIT-BASED MEMBERSHIPS IN GOVERNANCE BODIES

Successful bank trader and reputable collector Angela has just received a phone call from ARMO Museum inviting her to join their acquisition committee. Angela is very happy as she feels she can contribute with her knowledge and her unique point of view. During a follow up call with ARMO’s chief curator Sanjay, Angela understands that the museum is expecting her to make a donation during her years as a member of the committee. “We have three other collectors on the committee and two on the Board of Trustees. They’re all very committed to supporting the institution. If you wish to have a range of the donations they made in the past, I can get my assistant to send you some non-confidential benchmarks” says Sanjay nonchalantly over the phone. This makes Angela very awkward as she feels she is not being appointed for her substantive contribution, but for her potential to contribute financially. What should Angela do?
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
2

DISCLOSING CONFLICTS OF INTEREST

Collector Andreas is a young successful architect. He has recently been invited to be a member of the board of the ARMO Museum. While not his main professional activity, he also used to own 40% of a contemporary art gallery downtown but he sold his shares to his sister, who now owns 50% of the gallery. Should Andreas disclose these facts to avoid any conflict of interest with his future functions within the museum committee?
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
3

DISCLOSING CONFLICTS OF INTEREST

Collector Aiyana is a member of an acquisition committee at FRAME foundation for contemporary art. Aiyana is very fond of the work of artist Bayani and has recently purchased a set of five drawings from his gallery. She sees a lot of potential in this young talented artist and would like to share her knowledge of and excitement about his work with the foundation so they could also benefit from discovering this artist early in his career. When submitting her acquisition proposal for Bayani’s work, shall she mention the fact that she owns works from Bayani?
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
4

NOT USING THE MEMBERSHIP TO BENEFIT OWN COLLECTION

Collector Kyriakos is so very pleased to have been appointed to the board of trustees of ARMO Museum. Two years have passed, and he feels a lot more comfortable with the institution and the other members. Before joining the board, he was a heavy funder of the museum’s activities for years. The museum is struggling with next year’s program, so Kyriakos decides that at the next board meeting, he will propose a show of his collection, that he can fund himself, as a way to help the museum financially. He reasons: “With my long-standing support of the institution and my seat on the board, I feel that this is a legitimate proposal. I have very important artworks and it is in the interest of the museum and the local community to see my collection. Of course, they can always say no.” Is Kyriacos’s plan appropriate?
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
5

AVOIDING INSIDER TRADING

Collector Aiko is a member of the board of trustees of ARMO Museum, she takes her appointment very seriously and systematically attends all board meetings. At today’s meeting she heard that ARMO is planning to have an exhibition of young artist Joshua, who is just out of the fine art school but showing incredible talent already, which she can see from the images shown at the meeting. Aiko immediately thinks of buying a few works from Joshua as certainly his work must still be affordable at this stage. Can Aiko do that?
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
6

REJECTING UNDUE INCENTIVES OR REWARDS

Collector Magnus is preparing to propose a performance by artist Wanda at the acquisition committee of ARMO Museum. When he contacts Wanda’s gallery to obtain more information about the work and its price, gallerist Alina is so excited that she says: “This is so absolutely great Magnus, thank you ever so much. I’ll be very happy to give you a big discount on the next work you buy from the gallery, especially if it’s one of Wanda’s.” Magnus is hesitant to respond to this statement. What should he say?
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.
According to the code, the correct answer is this. If you have any questions or feedback on the code, we are very happy to listen to it so please contact us .
Well done, this is the correct answer according to the code.

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