Do you know that FTC can fine you up to $11,000 per infraction in your Internet advertising campaigns?

New FTC Guides refer to blogging, advertising, and celebrity endorsement specifically, but social networks will be affected as well.

The revised Guides specify that while FTC decisions will be reached on a case-by-case basis, the post of a blogger who receives cash or in-kind payment to review a product is considered an endorsement. Thus, bloggers who make an endorsement must disclose the material connections they share with the seller of the product or service. So, a blog post or Tweeter post in exchange for cash or in-kind payment to review a product is considered an endorsement.

FTC says that the “advertiser” and “endorser” is liable for anything he says in his blog, ad, landing page or sales page.
You will need clear disclosure about your testimonials, sponsored posts and tweets.
Also you relationship with the merchant must be visibly disclosed.

Those rules mostly apply to US market, how they can control or regulate overseas?