No. FDA does not have the authority under the law for pre-market approval of cosmetic product labeling. It is the manufacturer's and/or distributor's responsibility to ensure that products are labeled properly. Failure to comply with labeling requirements may result in a misbranded product.
For an overview of cosmetic labeling requirements, see "Labeling Regulations".
For a "how-to" guideto cosmetic labeling, including answers to common questions, with examples, see the "Cosmetic Labeling Guide".
For links to the cosmetic labeling regulations, see "Labeling Regulations: CFR Title 21, Part 701".
For information on cosmetic vs. drug claims, "organic," aromatherapy, and more, see "Labeling Claims".
For information on identifying cosmetic ingredients on cosmetic labels, see "Ingredient Names".