Posted on 13th Apr 2012 @ 11:02 AM

The Federal Trade Commission (FTC) initiated a review and seeks public comment on the ''Guides for the Jewelry, Precious Metals, and Pewter Industries,'' according to the Jewelers Vigilance Committee (JVC). 

As part of the agency's systematic review of all rules and guides, JVC reminded the trade that the FTC will consider the following questions:

What is the economic impact of the rule or guide?

Is there a continuing need for the rule or guide?

Are there possible conflicts between the rule or guide and state, local, or other federal laws or regulations?

Has the rule or guide been affected by any technological, economic, or other industry changes?

The next step in the process will likely be an announcement from the FTC requesting public comments that generally concern the Guides, as well as comments that specifically address questions that will be posed by the Commission.  That announcement is expected to also include a timetable for responses. The JVC follows these processes on a regular basis.