‘This holiday season, we’re catching up with The Jewelers Vigilance Committee (JVC) to see how the JCK Industry Fund has helped them to give back to the jewelry industry through education and guidance.
JVC was created in 1917 to provide education and self-regulation for the jewelry industry. It is a non-profit legal trade association that provides members with free education of the complex laws that apply to the manufacturing, advertising and sale of jewelry and is readily available to answer questions about how to apply those laws to everyday business practices.
We’re catching up with JVC this month to see how the JCK Industry Fund has helped its cause, learn more about its mission and its campaign and more—see the conversation below.
What initiatives are you currently working on?
In late July 2018, the Federal Trade Commission released their final revision to the FTC Jewelry Guides – guidelines that help the trade understand how to market and describe the jewelry products (and raw materials) that they are selling. These revisions make some changes to long-standing practices in the jewelry industry, and it is incredibly important that all members of the trade understand these changes so they can quickly implement them in their business. JVC attorneys are currently reading through the revisions, and translating them for the industry in easy language which will break down the changes to the Guides, highlight the top misconceptions of the revisions, and answer questions about the practical application of these changes. In keeping with our JCK Industry Grant, we will pay special attention to the disclosure requirements around lab grown diamonds, and make sure the industry is aware of how these changes affect their businesses.
JVC is also moving forward with our broader Industry Protection Program (IPP) efforts to provide legal compliance tools, educate industry members, and help them incorporate the practices necessary to meet the requirements of the law.
Specifically, how has the grant been allocated/implemented to support your cause?
Translation of the guides require hours of reading, research, preparation of educational and training programs as well as written guides which are all underway, and require funding. Additionally, The JVC has an ongoing conversation with the FTC so while this version of the Guides is final, we are providing feedback and advocacy for the industry on an ongoing basis. The JCK Industry Fund’s support of JVC is vital to our goals: to advocate, to educate and to guide our industry to the highest levels of ethics, integrity and legal compliance and the grant enables us to do all of this.
Along with increased manufacturing and marketing of Laboratory-Grown Diamonds, comes increased consumer curiosity. As with any newer product it is necessary for all parties to understand how the law applies, to create a level playing field. The JVC sees great opportunity to educate and inform all participants in the Laboratory-Grown Diamond market about current advertising regulations and potential supply chain concerns. Empowered by the generous support of the JCK Industry Fund grant, the JVC was able to develop a talk and present multiple times at this year’s JCK show as well as develop materials for distribution in the new lab grown neighborhood at the show. We have been able to take this guidance to individual members of the trade one on one and through webinars and other public speaking opportunities.
Can you share some details about your campaign/programming? How has your campaign/programming impacted the jewelry and watch communities?
JVC is working diligently to broadcast in plain language all the revisions to the FTC Jewelry Guides, and also answer questions and explain how to fold these changes into business to stay compliant. We will continue to push out information as it becomes available, on how these changes affect the different levels of our industry. We have already scheduled several webinar/seminars in order to clarify these changes and will continue to do so for the foreseeable future. The result we aim for is a prepared and educated trade so our members can operate their businesses smoothly, profitability and consistently without interruption from legal issues stemming from noncompliance
How do you foresee this grant elevating your capabilities?
Support from the JCK Industry Fund empowers the JVC to continue our work on behalf of the entire industry. The Grant amplifies our ability to fulfill our mission and enables us to actually reach the trade and provide education on the FTC guides around diamond and lab grown diamond disclosure as well as all of the other work we do. We are honored to be supported by the JCK Industry Fund and see it as an important vote of confidence from the trade that our work is worthwhile.