- Posted by: HQTS
On July 24, 2018 the U.S. Federal Trade Commission (FTC) approved the final revision to the “Guides for the Jewelry, Precious Metals, and Pewter Industries” (16 CFR 23) to help prevent deception in jewelry marketing.
The Guides explain to businesses how to avoid making deceptive claims about precious metal, pewter, diamond, gemstone, and pearl products, and when they should make disclosures to avoid unfair or deceptive trade practices.
Specifically, the revisions address (1) surface application of precious metals, (2) alloys with precious metals in amounts below minimum thresholds, (3) products containing more than one precious metal, (4) composite gemstone products, (5) varietals, (6) “cultured” diamonds, (7) qualifying claims about man-made gemstone products, (8) pearl treatment disclosures, (9) use of the term “gem,” (10) misleading illustrations, (11) the definition of “diamond,” and (12) exemptions recognized in the assay for gold, silver, and platinum.
The revisions also remove outdated or redundant provisions, guide marketing of certain products to more accurately represent their properties and remove existing restrictions on product marketing that are unnecessary to prevent deception.