Is there any information/guidance on whether a jewelry store can be exempted under Phase II?

From BSA Exam Manual:

Ineligible Businesses

Certain businesses are ineligible for treatment as an exempt non-listed business (31 CFR 103.22(d)(6)(viii)). An ineligible business is defined as a business engaged primarily in one or more of the following specified activities:

• Serving as a financial institution or as agents for a financial institution of any type.
• Purchasing or selling motor vehicles of any kind, vessels, aircraft, farm equipment, or mobile homes.
• Practicing law, accounting, or medicine.
• Auctioning of goods.
• Chartering or operation of ships, buses, or aircraft.
• Operating a pawn brokerage.
• Engaging in gaming of any kind (other than licensed pari-mutuel betting at race tracks).
• Engaging in investment advisory services or investment banking services.
• Operating a real estate brokerage.
• Operating in title insurance activities and real estate closings.
• Engaging in trade union activities.
• Engaging in any other activity that may, from time to time, be specified by FinCEN.
  
  A business that engages in multiple business activities may qualify for an exemption as a non-listed business as long as no more than 50 percent of its gross revenues per year are derived from one or more of the ineligible business activities listed in the rule.