The conformance statement
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The three forms
"Conforms to ASTM Practice D-4236". "Conforms to ASTM D-4236". "Conforms to the health requirements of ASTM D-4236". Any of those, exactly.
Why exactness matters here
The statement is how a buyer, a retailer and an inspector identify that the review happened. A reworded version that reads more naturally does not perform that function, because the reader is matching a string rather than parsing a sentence.
It is a claim about a process
It asserts that the formulation went to a toxicologist and that the resulting labeling is on the package. Printing it without having done the review is not a labeling error; it is a false statement about compliance.
Where it sits on the label
It is part of the required labeling, so it is subject to the same conspicuousness thinking as the rest. In practice it is set near the cautionary block rather than hidden in the small print at the base of the back panel.
And it is per formulation
A range of six products is six reviews and six statements, even where four of them share most of their ingredients. The statement travels with the formula, not with the brand.
Retailers will ask for it
Any buyer stocking art materials for schools or for children has a reason to check. Being able to produce the statement and the review behind it without a search is part of being stockable.
What it does not do
It does not make a product safe for children, it does not substitute for the hazard labeling where chronic hazards exist, and it does not travel to a reformulated version of the same product.
Do not shorten it to fit
On a small container the temptation is to trim it, because it is a long string on a crowded panel and it reads like boilerplate. The shortest permitted form is "Conforms to ASTM D-4236", and that is already the short version. If it will not fit, the container is too small for the product rather than the statement being too long.