Harmful ingredients - Toxic ingredients do not have FDA approval similar to the Federal Reserve, eh?
EXCERPT:
The FDA (Food and Drug Administration) classifies cosmetics and personal care products, but does not regulate them. In 1938, the FDA granted self-regulation to the Cosmetics, Toiletries and Fragrance Association (CTFA), the self-appointed industry organization.

With The exception of color additives and a few prohibited ingredients, a cosmetic manufacturer may use almost any raw material as a cosmetic ingredient and market the product without an approval from FDA" ("Prohibited Ingredients", FDA Office of Cosmetics Fact Sheet, Dec. 19, 1994)