Platinum Task Force holds forum on FTC proposal

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Platinum Task Force holds forum on FTC proposal

By Mary Wisniewski

March 11, 2008

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New York—The Platinum Task Force held an open meeting yesterday at the JA New York Winter Show to discuss the Federal Trade Commission's (FTC) request for comments on its proposed outlines for naming platinum with base-metal alloy products.

Cecilia L. Gardner, Jewelers Vigilance Committee (JVC) president, chief executive officer and general counsel, monitored the meeting, held at the Jacob K. Javits Center in New York City, and emphasized that the issue is not about whether or the product should be sold but about how to label it.

The FTC's latest proposal is in response to comments filed by the JVC, Manufacturing Jewelers and Suppliers of America, the American Gem Society, Jewelers of America and others in October 2005.

The FTC's proposal states that using the word platinum unqualified to describe platinum with base-metal alloy products would most likely lead to consumer confusion as would a disclosure with a description of the non-platinum group metal component using only numbers and chemical abbreviations.

Consequently, the proposal revises the Guides for the Jewelry, Precious Metals and Pewter Industries, 16 CFR Part 23 (Jewelry Guides) to allow the use of the word platinum to describe an alloy of at least 500 parts per thousand (ppt) platinum alloyed with base metals as long as it clearly discloses it contains other non-platinum group metals.

The FTC suggests that the product's full composition by name and the percentage of each metal be spelled out too. In addition, the proposal also says that if the product doesn't have the same attributes as platinum containing at least 850 ppt, this information must be provided too.

The FTC has asked 19 questions regarding its proposed revision of the guides, setting May 27, 2008, as a deadline to submit comments.

Gardner said this deadline is unrealistic and plans to ask to delay it for 90 days.

She also said this last report was strong but weak in documented consumer information and encouraged all who can to lobby Congress about it.

Established in 2005, the Platinum Task Force provides industry comments to FTC questions and issues regarding the Jewelry Guides.

For the full text of the FTC's Federal Register Notice, click here.

Editor's note: For earlier developments in this story, see FTC requests public opinion on platinum guides.

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