On Tuesday, July 24, 2018, the Federal Trade Commission released its final revision to its Guides for the Jewelry, Precious Metals, and Pewter Industries (16 CFR Part 23). These revisions take effect immediately and are final – the revision project is now closed.
The Guides focus on advising marketers how to make claims about jewelry products that are not deceptive to consumers. An act or practice is deceptive if it involves a material statement or omission that would mislead a consumer acting reasonably under the circumstances.
In this document, the Jewelers Vigilance Committee will provide a summary of changes to the Guides and recommendations on how to quickly and compliantly implement these changes in your businesses. As a reminder, these Guides apply to conduct at all levels of the jewelry trade. It is the responsibility of every member of the industry to understand these changes and to implement them accordingly. And, of course, JVC is here to help you do exactly that!
Topics in Summary of Changes to Guides:
I. Changes to Guidelines for Precious Metals
A. Products with Precious Metal Surface Layers
B. Precious Metal Minimum Thresholds
C. Products Containing More Than One Precious Metal
II. Changes to Guidelines for Diamonds
A. Use of Terms to Describe Man-Made Diamonds
B. Use of the Term “Cultured”
C. Use of “Real”, “Genuine”, “Natural”, Etc.
D. Change to Definition of Diamond
III. Changes to Guidelines for Pearls
A. Treatment Disclosure
IV. Changes to Guidelines for Gemstones (Including Diamonds)
A. Composite Gemstone Products
B. Varietal Names
C. Use of Terms for Man-Made Gemstones
D. Use of “Real”, “Geniune”, “Natural”, Etc.
E. Removal of Definition of “Gem”
V. Miscellaneous Changes
A. Use of the Term “Handmade”
B. Addition of “Bracelet and Necklace Snap Tongue” to Assay Exemptions
And if you have additional questions, please do not hesitate to reach out to us at (212) 997-2002, or [email protected].