JVC to Hold AML Seminars on the West Coast

TheJewelers Vigilance Committee, the legal compliance expert in the jewelry industry, is presenting its “Legal Compliance is NOT Optional” education seminar series in Seattle, Oct. 10 and in San Francisco Oct. 11. JVC selected these cities based upon the large number of jewelry retailers and suppliers doing business in these areas.

In 2006, JVC developed and launched “Legal Compliance is NOT Optional” to educate jewelers about the legal regulations regarding how they do business. In 2007, JVC presented seminars in Dallas, Atlanta, and Chicago. The 2006 and 2007 seminars are sponsored by a grant from the JCK Industry Fund.

The seminars will be presented by Cecilia L. Gardner, JVC’s president, chief executive officer, and general counsel, and Certified Anti-Money Laundering Specialist. The seminars will offer practical actions many jewelers may need to take to follow legal compliance regulations, including how to comply with anti-money laundering regulations pertaining to the USA PATRIOT Act. Seminar content can help to demystify government regulations for jewelers.

“Government regulations for the jewelry industry have gotten tougher. It is important that retailers, manufacturers and distributors who sell fine jewelry know their legal obligations,” Gardner said. “JVC’s goal is to help jewelers doing business in the US understand the legal regulations pertaining to the manufacture, sale and advertising of fine jewelry.

Gardner  continued, “In addition to trying to maintain or add market share, jewelers must comply with an array of legal compliance regulations and, at the same time, fulfill existing regulations such as filling out an 8300 form for cash transactions over $10,000.

She said the Internal Revenue Service has has been examining jewelers’ 8300 forms this year and asking to see their AML programs.

JVC’s seminar in Seattle will be at the Mayflower Park Hotel, 405 Olive Way, Seattle, WA 98101. The San Francisco seminar will beat the Westin St. Francis, 335 Powell Street. Both seminars are from 8 a.m. to 10 a.m. and include light breakfast. 

JVC seminars are free of charge but registration is required. To register, email jvc@redjewel.com; fax: 310-734-1636 or visit JVC’s Web site; Or call JVC at 212-997-2002.