FTC Demands More Platinum Disclosure

Companies must disclose if their platinum contains a large percentage of base metal alloys, the Federal Trade Commission ruled on Dec. 16.The new rule was one of a number of revisions the FTC made to the platinum section of its Guides for the Jewelry, Precious Metal, and Pewter Industries.The new rules say:  • When using base metal alloys that contain between 50 percent and 85 percent platinum, marketers must disclose the product’s full composition, by name and not abbreviation, as well as the percentage of each metal it contains (i.e., “75 percent platinum, 25 percent copper”).• If the product does not have the same attributes or properties as traditional platinum products, that must also be disclosed.• As in the past, any item that contains less than 500 parts per thousand pure platinum may not be marked or described as “platinum.” But ­jewelry composed of at leas

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