Menu Click here
website logo
Sign In| Sign Up
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
MY IDEX
My Bids & Asks My Purchases My Sales Manage Listings IDEX Onsite Company Information Branches Information Personal Information
Logout
Newsroom Full Article

JVC Provides Pointers To Most Significant Changes In FTC Guides

August 19, 18 by Albert Robinson

(IDEX Online) – The Jewelers Vigilance Committee (JVC) has provided pointers to members of the industry on the most significant changes to the Federal Trade Commission's (FTC) final revision to its Jewelry Guides and will hold webinars for the trade.

 

"JVC exists to translate legal compliance issues for the trade, there are currently a lot of misconceptions circulating and we want you to have 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. Please join us in one of the upcoming webinars to fully understand these important changes."

 

The JVC made the following comments:

 

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 stimulant

 

  • 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 10K 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.

Diamond Index
Related Articles

FTC's Revised Guides Stoke Up Flames Between 'Natural' And 'Synthetic' Diamond Sectors

July 26, 18 by Albert Robinson

Read More...

WFDB Responds to Revised Federal Trade Commission Guidelines

July 28, 18 by Albert Robinson

Read More...

DPA Welcomes FTC Guides, Wants More Clarity To Avoid Consumer Confusion

August 02, 18 by Albert Robinson

Read More...

Newsletter

The Newsletter offers a quick summary of the past week's industry news and full articles.
Our Services About IDEX Privacy & Security Terms & Conditions Sign-Up Advertise on IDEX Industry Links Contact Us
IDEX on Facebook IDEX on LinkedIn IDEX on Twitter