Earlier this month, the U.S. Federal Trade Commission (FTC) officially announced that it will be initiating a review, and seeking public comment on, the Guides for the Jewelry, Precious Metals, and Pewter Industries, reports the Jewelers Vigilance Committee (JVC).  This effort is part of the agency's systematic review of all FTC rules and guides. 

The announcement can be found at this link: http://tinyurl.com/cjtnq2b

As noted in the announcement, in conducting the review and seeking public comment, the FTC will consider the following questions:

• What is the economic impact of the rule or guide?
• Is there a continuing need for the rule or guide?
• Are there possible conflicts between the rule or guide and state, local, or other federal laws or regulations?
• Has the rule or guide been affected by any technological, economic, or other industry changes?

According to the JVC, the next step in the process will likely be an announcement from the FTC requesting public comments that generally concern the Guides, as well as comments that specifically address questions that will be posed by the Commission.  That announcement is expected to also include a timetable for responses.