New US FDA Regulations bans Sunscreens branded or advertised as

On June 14, 2011, U.S. FDA issued new rules for sunscreen products. These present dramatic changes to current regulations and rules by U.S. FDA for suncreen products.

New labeling and testing requirements are effective for all sunscreen products. Many common phrases used on sunscreen products, such as "sunblock," "waterproof," "prevents skin cancer," etc. are no longer permitted by U.S. FDA. In addition, specific testing must be completed for each sunscreen product before other claims about the product's UVA and UVB protection can be made.

As part of a long-awaited FDA program to crack down on false and confusing messaging on skin protection products, beginning in mid-2012 “waterproof” and “sweatproof” sunscreen will cease to exist, as will the misnomer “sunblock.”

The FDA agency is giving large consumer health manufacturers such as Johnson & Johnson, Merck, and Energizer– which make up a big part of the $680 million US sunscreen market with their Neutrogena, Copportone, and Banana Boat brands – a year to remove such terms from their labels and instead provide accurate statements about how much protection their products are providing. (Smaller companies will have two years.)

So-called waterproof products will instead have to describe how many minutes the creams remain resistant to water, and no sunscreen can advertise more than two hours of protection from the sun without reapplication (unless specifically approved to do so).

Its only a matter of time before these regulations will also apply in the EU.

More details can be found on the following links:
The Cosmetics, Toiletry and Perfumery Association.
US Food and Drug Administration