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Press Release: The Jewelers Vigilance Committee (JVC) has filed a response to a second round of inquiries from the Federal Trade Commission (FTC) on the revisions to Guides for the jewelry industry. The response was cosigned by Jewelers of America, Platinum Guild International USA, Diamond Council of America, Fashion Jewelry & Accessories Trade Association and The Richline Group.
The FTC inquired about two subjects: alloys containing less than required minimum amounts of precious metals, and requirements for surface applications of precious metals. JVC explained in its submission that alloys containing less than required minimum amounts of precious metal should be labeled with the percentage of precious metal in the item. Further, the JVC reiterated its support for a unified and simplified approach to surface applications of precious metals. This approach should apply equally to all such applications of any precious metal, including gold, silver, platinum, palladium and rhodium – including the required disclosure of rhodium plating. In its response, JVC submitted additional evidence to support its positions, including consumer perception data and metallurgic testing results. JVC will participate in a roundtable discussion in Washington, DC hosted by the FTC on June 19, 2013. For further details about registering for the roundtable, and to review the JVC submission, visit www.jvclegal.org.
To keep up to date with JVC updates and events, be sure to follow us on twitter @jvclegal and like us on Facebook. Jewelers Vigilance Committee, founded in 1917, is a not-for-profit 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 before government agencies, media and adjunct fields. For more information visit: www.jvclegal.org.
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