RAPAPORT... The Jewelers Vigilance Committee (JVC) reminded the trade that as part of the Federal Trade Commission's (FTC) systematic review of rules and guides, the government agency is seeking public comment on revisions to the jewelry guides. The deadline for comments is August 27, 2012.
Public comments and concerns about the guides can also address specific issues such as the marketing of lead-glass-filled composite stones --hybrid or composite rubies for example-- use of the word "cultured" in marketing laboratory-created diamonds and gemstones, disclosures relating to freshwater pearls and treatments to pearl products, and content descriptions of alloys and alloy products containing precious metals in amounts less than the minimum thresholds currently reflected in the guides. The FTC completed its last comprehensive review of the guides in 1996 and has modified them four times since, according to JVC.
JVC is spearheading a taskforce representing virtually all sectors of the jewelry industry and urges members, retailers, manufacturers, gold-buyers and allied segments of the community to develop a set of comments supported by market research representing industry positions on potential revisions.
Cecilia L. Gardner, JVC’s president, said, “The FTC’s review of the Jewelry Guides is an opportunity for the FTC and the jewelry industry to work together to ensure against deception practices and to help businesses mark, advertise and market jewelry correctly. A comprehensive representation of industry positions on the guides revisions can help to improve consumer confidence and enhance our community’s reputation.”
JVC also encourages industry members to share their views on these topics with them by emailing Sara Yood, JVC's assistant general counsel, at sara-at-jvclegal.org.