July 6, 1999
FTC Extends Deadline on Guides Amendments
The Federal Trade Commission, which is accepting feedback about proposed amendments to diamond and gemstone disclosure guides, extended the deadline for submitting comments to Aug. 31. The previously stated deadline was July 9.
The FTC proposed amending section 23.13 of the Guides for the Jewelry, Precious Metals and Pewter Industries to include provisions for disclosure of diamond laser drilling. Under the proposed amendment, failure to disclose laser drilling would be considered unfair and deceptive, and all lasering would have to be disclosed at all levels of distribution. Failure to do so would leave a seller subject to action by the FTC, state attorneys general and private lawsuits.
A petition by the Jewelers Vigilance Committee and others prompted the proposed amendments. The FTC also proposed amending section 23.22, which concerns colored gemstone treatment. This proposed change would require disclosure of any colored gemstone treatment, even one that is permanent and doesn't require special care, whenever the treatment significantly affects a gem's value. This important change would shift the focus away from the question of a treatment's permanency to its effect on value.
Direct comments to Secretary, Federal Trade Commission, 600 Pennsylvania Avenue, NW, Room H-159, Washington, D.C. 20580, e-mail email@example.com. For more information contact FTC attorney Robin Rosen Spector, (202) 326-3740.
To read the FTC's proposed amendments, click here. Your computer will need Adobe Acrobat Reader to read the page; for easy download of this useful software, click on the icon to the left.
- by William H. Donahue Jr.