The Federal Trade Commission (FTC) has recently released a report regarding new guidelines surrounding paid sponsorships and product reviews, recommendations and blogging.
The full report can be viewed here: http://ftc.gov/os/2009/10/091005endorsementguidesfnnotice.pdf
It is important that all affiliates and merchants read this report and determine what, if any, action needs to be taken in order to comply. The report states that the rules become active on December 1st of 2009.
Mediums such as Twitter, Facebook and other social sites are included… so it is important to fully read and understand the report. The FTC has said themselves that they aren’t going to be fining people for lack of disclosure … but are really instead trying to guide bloggers and marketers in the direction of ethical business practices. If you aren’t trying to deceive customers – it is unlikely that you’ll be affected by this.
In my opinion, bottom line, honest bloggers and affiliate marketers don’t have much to worry about here.