Posted on 29th Jun 2012 @ 10:34 AM
As part of its systematic review of all current rules and Guides, The FTC (Federal Trade Commission) is seeking comments from members of the trade and consumers about revisions to the Jewelry Guides.
The last systematic review was completed in 1996 although modifications have taken place four times since.
The FTC wants comments on general issues and concerns about the Guides as well as comments on several specific issues, including the marketing of lead-glass-filled composite stones (such as ‘hybrid" or ‘composite’ rubies), 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 and more.
JVC (the Jewelers Vigilance Committee) is heading a taskforce representing virtually all sectors of the industry, and wants its members to develop a set of comments supported by market research representing industry positions on potential revisions.
“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,” says Cecilia L. Gardner, JVC’s president and CEO. “A comprehensive representation of industry positions on the Guides revisions can help to improve consumer confidence and enhance our community’s reputation.”