UPDATE: theKBuzz reports this update from today’s earlier FTC ruling:
The Federal Trade Commission (FTC) approved the final revisions of the Guides Concerning the Use of Endorsements and Testimonials in Advertising yesterday. The revision, the first since 1980, requires bloggers to disclose any monetary or material compensation that they receive for endorsing a product or service. Violators of the new guidelines, which go into effect on December 1, can face up to $11,000 in fines from the FTC. The new guidelines do not specify how a blogger should disclose the information; they just require them to do so.
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