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What does ARC stand for?

ARC stands for Advertising Review Council

This definition appears somewhat frequently

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In fulfilling a key aspect of the self-regulatory mission of the ESRB, the Advertising Review Council (“ARC”) is responsible for the implementation, administration, and enforcement of advertising guidelines adopted by the interactive entertainment software industry. The following ARC Principles and Guidelines for Responsible Advertising Practices (the “Principles and Guidelines”) apply to all “qualifying advertising” for games rated by the ESRB, and all publishers utilizing ESRB ratings are legally bound to comply with the guidelines and to ensure compliance by their co-publishers, licensee, agents and/or other third parties authorized in connection with the development, creation, distribution or placement of qualifying advertising.