FTC neither with global trade nor protects US consumer
CIBJO
releases Ethics Commission Special Report,
Focuses
on impact and implications of revised FTC Guides
With
fewer than five weeks to go to the opening of the 2018 CIBJO Congress in
Bogotá, Colombia, on October 15, 2018, the fifth of the CIBJO commissions'
Special Reports has been released. Prepared by the CIBJO Ethics Commission,
headed by Tiffany C. Stevens, the report focuses exclusively on the newly
revised Guides for the Jewelry, Precious Metals, and Pewter Industries,
released in July by the U.S. Federal Trade Commission. The report is
co-authored by Ms. Stevens and Sara E. Yood.
Addressing
comments that had been heard in the jewellery industry that the FTC Guides seem
to disregard harmonisation efforts made by the international trade, Ms. Stevens
and Ms. Yood note that the primary focus of the American agency is somewhat
different.
"The
FTC tries to harmonise its guidance with international standards when possible,
but it must base its guidance on Section 5 of the FTC Act. In contrast, many
international standards are developed through industry consensus-building
processes that are based not on Section 5's standards for preventing deception
and unfairness, but rather other considerations, such as facilitating trade and
promoting international cooperation," they write.
"The
FTC does not especially seek to harmonise global trade standards, but instead
envisions its purpose as consumer protection in the United States," they
continue. "Be that as it may, the FTC Guides definitely have a global
impact; hence the decision to focus upon them in this year's Ethics Commission
Special Report."
The other primary
international standards of importance to the jewellery and gemstone sectors are
those issued by ISO and the various CIBJO Blue Books. An in-depth discussion of
these concepts and their potential for impact across the global market will be
had at the 2018 CIBJO Congress in Bogotá, Colombia.
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