(NEW YORK) – The JVC (Jewelers Vigilance Committee) has been notified that as part of the FTC’s (Federal Trade Commission) systematic review of all current FTC rules and Guides, the agency is seeking public comment from members of the trade (and from consumers) on revisions to the Jewelry Guides. The deadline for comments is August 27, 2012.
The FTC invites public 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. The FTC completed its last comprehensive review of the Guides in 1996, and has modified them four times since.
JVC is spearheading a task force representing virtually all sectors of the jewelry industry, and urges JVC members – retailers, manufacturers, gold-buyers, and allied segments of the community – to develop a set of comments supported by market research representing industry positions on potential revisions.
Comments Cecilia L. Gardner, JVC’s President and CEO: “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. A comprehensive representation of industry positions on the Guides revisions can help to improve consumer confidence and enhance our community’s reputation.”