June 25, 2012

FEDERAL TRADE COMMISSION PUBLISHES
REQUEST FOR COMMENTS

SEEKS PUBLIC INPUT ON REVISIONS TO
JEWELRY INDUSTRY MARKETING GUIDES

JVC (JEWELERS VIGILANCE COMMITTEE) SPEARHEADS
EFFORT TO AMASS INDUSTRY COMMENTS

New York City, June 25, 2012 – 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 taskforce 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.  The deadline to submit comments to the FTC is August 27, 2012.     

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.”

JVC encourages industry members to share their views on these topics by sending an email to: Sara Yood, JVC Assistant General Counsel, sara@jvclegal.org

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.

For additional information, visit the FTC web site.

#                                              #                                              #