The FTC recently released its updated Jewelry Guides. 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. The new Guides mark the end of a review process which began in 2012.
The revisions address:
- Surface application of precious metals;
- Alloys with precious metals in amounts below minimum thresholds;
- Products containing more than one precious metal;
- Composite gemstone products;
- "Cultured” diamonds;
- Qualifying claims about human-made gemstone products;
- Pearl treatment disclosures;
- Use of the term “gem”;
- Misleading illustrations;
- The definition of “diamond”; and
- Exemptions recognized in the assay for gold, silver, and platinum.