Jewelers Vigilance Committee (JVC) has completed its task of leading the process recommending changes to the “Federal Trade Commission (FTC) Guides for the Jewelry, Precious Metals, and Pewter Industries“. This collaborative effort was achieved with participation from “manufacturers, wholesalers, distributors, precious metal suppliers and refiners, diamond dealers, colored gemstone dealers, and retailers – the entire jewelry community”; FJATA was a participant in the revision.
The FTC Guides establish industry standards to which most companies adhere. Participation in key expositions, such as JA New York (Jewelers of America), JCK Las Vegas (Jeweler’s Circular Keystone), AGTA Gemfair Tucson (American Gem Trade Association), MJSA Expo New York (Manufacturing Jewelers and Suppliers of America) and others, is predicated upon following all applicable laws and regulations, of which the FTC guides are a key component. The BBB and GIA both refer to the FTC Guides. The Guides establish a level playing field for industry and product consistency for consumers.
Some key aspects of the FTC Guides are definitions of karat gold terms, diamond descriptions, plating thicknesses, and terms related to colored gemstones. This revision deals with labeling requirements for gold and palladium; new emerging metal combinations; gemstone term usage; properly stating weight ratio or thickness of plated and laminated precious metals; and properly using the terms “cultured”, “simulated”, “dyed”, and “treated”.