RAPAPORT... Press Release: Cecilia L. Gardner, Esq., president and chief executive officer (CEO) of the Jewelers Vigilance Committee (JVC), has been asked by the Internal Revenue Service (IRS) to train examiners on the complexities of the jewelry industry in preparation for their examination of jewelers’ anti-money laundering programs' compliance with the USA Patriot Act. The examinations are scheduled to commence shortly. JVC will provide an overview of the unique aspects of the jewelry industry to help IRS examiners understand the diverse sectors, multiple business models and complex methods of doing business in the jewelry industry.

Gardner said, “Serving as an industry liaison, JVC will train IRS examiners about commonly used, legally compliant methods of doing business in the jewelry industry. Many jewelry businesses, particularly small, family-run businesses, operate in ways that IRS examiners may not have encountered when reviewing banks or other financial institutions. JVC is committed to helping examiners to understand how the industry thinks and what to expect — and what not to expect — prior to their review of jewelers’ anti-money laundering programs."

"JVC, the legal compliance expert in the jewelry industry, has long represented the industry’s needs and concerns before the government agencies that regulate how we do business," the company noted. "The IRS’ request for JVC to train their examiners is a logical extension of JVC’s role as industry liaison with government agencies and can help to improve communications between jewelers and the IRS. JVC welcomes input from industry manufacturers and retailers; jewelers with ideas about how to advance communication with the IRS should contact me at the JVC.”

Visit JVC’s website — www.jvclegal.org — for legal compliance information pertaining to the manufacture, sale and marketing of fine jewelry and to join JVC. 

About Jewelers Vigilance Committee (JVC)
Jewelers Vigilance Committee (JVC), founded in 1917, is a nonprofit legal trade association fulfilling its mission to maintain the jewelry industry’s highest ethical standards. JVC offers dispute mediation and arbitration services for trade and consumers, compliance monitoring and precious metals testing, among many other services. JVC, long considered the industry’s guardian of ethics and integrity, is a resource for the entire jewelry industry and its customers, as well as an industry representative for government agencies, media and adjunct fields. JVC members pay low annual dues and receive thousands of dollars in free legal compliance information and services, plus deep discounts on JVC products. For more information about JVC, visit www.jvclegal.org.

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