(NEW YORK) - On July 24, 2018 the Federal Trade Commission (FTC) released the final revision to its Guides for the Jewelry, Precious Metals, and Pewter Industries, otherwise known as the “Jewelry Guides.” There are some significant changes in these revised guides that impact most parts of the trade.
The Jewelers Vigilance Committee (JVC) exists to translate legal compliance issues for the trade, there are currently a lot of misconceptions circulating and JVC wants you to have the accurate information. With the release of the new Jewelry Guides, JVC will educate every level of the jewelry supply chain on how these changes actually affect their business. Join one of JVC’s upcoming webinars to fully understand these important changes.
Top 5 Facts of the New FTC Jewelry Guides:
- “Diamond” still means diamond. In an advertisement/marketing piece in print or online, the word “diamond” alone still means a natural diamond from the earth.
- Laboratory grown diamonds must be disclosed using “Laboratory-grown,” “Laboratory-created,” “[Manufacturer name]-created,” or a similar or like word or phrase that clearly discloses the nature of the product
- If the word “cultured” is used, you must also have one of the disclosures above; “cultured” cannot be used alone
- It’s still okay to use the word “synthetic,” just not in a way that implies it’s a simulant
- The words “real” “genuine” “natural” “semi-precious” and “precious” can only be used to describe diamonds and colored stones from the earth; these words cannot be used to describe manufactured or artificially produced products.
- The 10 karat minimum on gold has been eliminated. There is no floor on what can be called “gold” so long as the fineness is disclosed.
- All rhodium plating must now be disclosed.
- Although these Guides are not law, they do have to be followed. The Guides are based on the Federal Trade Commission Act - a very real federal law that empowers the FTC to take action against you. In addition, a consumer or a group of consumers (in a class action) can take action against you for failure to follow the Guides and deceiving consumers, and a competitor can sue you for false or misleading advertising under Section 43(a) of the Lanham Act.
Join a JVC webinar for a full breakdown of the revised Guides. Secure your spot now:
Wednesday August 15th, 2018
Hosted by JIS. To receive a copy of this webinar, please call JVC at 212-997-2002
Monday, September 17th, 2018 from 2:00 pm - 2:45 pm EDT
Registration details can be accessed at www.jvclegal.org/webinars or by calling 212-997-2002. JVC webinars are free to members. The non-member fee is $25.
Wednesday, October 3rd, 2018 from 2:00 pm - 3:00 pm EDT
Key Changes to the FTC Jewelry Guides - a webinar presentation to Jewelers of America members. Details here: www.jewelers.org/ja/events-news/webinars