On August 16, 2018, the Federal Trade Commission (FTC) published in the Federal Register a final rule adopting revised Guides for the Jewelry, Precious Metals, and Pewter Industries (“Jewelry Guides” or “Guides”). The Federal Register document summarizes the FTC’s revisions to the previous Guides and includes the final Guides as revised. Specifically, the FTC revised the following areas:
- surface application of precious metals;
- alloys with precious metals in amounts below minimum thresholds;
- products containing more than one precious metal;
- composite gemstone products;
- varietals;
- “cultured” diamonds;
- qualifying claims about man-made gemstones;
- pearl treatment disclosures;
- use of the term “gem”;
- misleading illustrations;
- diamond definition; and
- exemptions recognized in the assay for gold, silver, and platinum.
Readers can find the FTC’s complete analysis in the Statement of Basis and Purpose (“SBP”) on the FTC’s website here.
