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Federal Trade Commission Seeks Feedback on Proposed Changes to Jewelry Guides

Dec 30, 2015 7:56 AM   By Rapaport News
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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.”
Tags: federal trade commission, ftc, FTC Guides for the Jewelry Industry, Guides for the Jewelry Precious Metals and Pewter Industries, jewelry guides, Rapaport News, u.s.
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