Federal Trade Commission (FTC)

The FTC sets standards and regulations for the jewelry industry to protect consumers and maintain market integrity.

Part of speech: noun
Definition: The Federal Trade Commission (FTC) plays a pivotal role in the jewelry industry by establishing guidelines and policies that govern how jewelry, gemstones, and metals are sold and marketed. Its regulations ensure transparency, preventing deceptive practices by requiring accurate descriptions of the materials in the jewelry. For instance, the FTC's guides to the Jewelry, Precious Metals, and Pewter Industries dictate how terms such as 'gold', 'silver', 'diamond', etc., can be used, ensuring consumers are not misled regarding the quality or the nature of the products they purchase. This regulatory oversight helps maintain consumer confidence in the jewelry market, emphasizing the importance of adherence to ethical standards within the industry.