RAPAPORT... The Federal Trade Commission (FTC) is seeking
comments by April 4, 2016, on the latest draft of proposed changes to the FTC
Guides for the Jewelry Industry.
The guides – formally
called the Guides for the Jewelry, Precious Metals, and Pewter Industries –
advise businesses how to avoid making deceptive claims about precious metal,
pewter, diamond, gemstone, and pearl products, and when to provide certain
types of disclosures about products, according to a statement by the FTC December
28.
In 2012, the commission sought public comment as
part of a review of its rules and guides. Among other things, it requested comments
on specific issues concerning composite gemstones, pearls, diamonds, and
precious metal alloys. Based on feedback received and information obtained
during a public roundtable in June 2013, the FTC proposes to revise its
guidance on below-threshold alloys, precious metal content of products
containing more than one precious metal, surface application of precious
metals, lead-glass filled stones, synthetic diamonds, pearl treatments,
varietals, and misuse of the word ‘gem.’
In a separate
statement December 29, JVC said it plans to reconvene a committee of industry
associations and a second consultative committee open to all industry members who wished
to participate in formulating the response
the new draft.
“This is the next step in the important
process of revising the FTC Jewelry Guides to meet the challenges of the 21st
century,” said Cecilia L. Gardner, chief executive officer of JVC. “JVC intends
to ensure that our industry expresses its views on how best to formulate the
standards by which our industry operates in a legal and ethical manner.”
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