Episode 6: Keeping Compliant with Sara Yood, Esq.
Our guest on this episode, Sara Yood, senior counsel at the Jewelers Vigilance Committee (JVC), has made a career out of helping businesses wade through the myriad guidelines, regulations, and laws that apply to making and selling jewelry. It’s not easy staying up to date—recent changes to the FTC guidelines, for instance, have changed how the industry can talk about karat gold, lab-grown gems, and metal coatings, while a recent Supreme Court decision changed the rules for taxing internet sales. Add in such continuing concerns as maintaining proper anti-money-laundering documentation and protecting intellectual property, and Yood and her team at the JVC have their hands full helping the industry to remain up to date and in compliance.
In this discussion, Yood talks about her background and education as well as what led her into jewelry law. She also provides insights, offers advice, and explains JVC’s position on the newly announced line of 1k gold jewelry, the FTC’s recent warning letters to lab-grown diamond marketers, the federal government’s pressure on the industry to improve its sourcing and chain of custody procedures, and how designers can copyright and protect their work.
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- 2:25 - Sara’s education background and path into jewely law
- 3:45 - Protecting creators, similarities between jewelry and fashion/music industry
- 6:03 - 1k gold jewelry news, metal content and plating disclosure requirements
- 9:12 - Documentation requirements, substantiating claims
- 9:42 - JVC’s response to 1k gold jewelry, plans to address gold karatage issues going forward
- 11:52 - FTC’s warnings to diamond marketers, JVC’s role
- 14:39 - Issues surrounding lab-grown diamond "eco-friendly" and "green" claims
- 15:19 - Advice on making ad claims, following FTC Green Guides
- 16:00 - Confusion on "carbon-neutral" claims
- 17:11 - Current sourcing/supply chain regulations, importance of anti-money laundering (AML) policies
- 19:38 - Reviewing your own supply chain, importance of education and awareness
- 22:00 - Penalties and risks of non-compliance
- 23:21 - Intellectual property protection for designers and businesses
- 26:55 - Limitations of copyright protections, challenges demonstrating "newness" in the jewelry designs
- 27:55 - Benefits of registering a group of works for copyright rather than individual pieces
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