A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could exist in place of government regulation, or applied in addition to government regulation. The ability of an SRO to exercise regulatory authority does not necessarily derive from a grant of authority from the government.
In United States securities law, a self-regulatory organization is a defined term. The principal federal regulatory authority—the Securities and Exchange Commission (SEC)—was established by the federal Securities Exchange Act of 1934. The SEC originally delegated authority to the National Association of Securities Dealers (NASD, now Financial Industry Regulatory Authority (FINRA)) and to the national stock exchanges (e.g., the NYSE) to enforce certain industry standards and requirements related to securities trading and brokerage. On July 26, 2007, the SEC approved a merger of the enforcement arms of the NYSE and the NASD, to form a new SRO, the Financial Industry Regulatory Authority (FINRA). In addition, Congress created the Municipal Securities Rulemaking Board (MSRB) as an SRO charged with adopting investor protection rules governing broker-dealers and banks that underwrite, trade and sell tax-exempt bonds, 529 college savings plans and other types of municipal securities.
Because of the prominence of the SROs in the securities industry, the term SRO is often used to narrowly to describe an organization authorized by statute or government agency to exercise control over a certain aspect of the industry.
The National Association of Realtors (NAR) is an example of an SRO that fills the vacuum left by the absence of government oversight or regulation. The NAR sets the rules for multiple listing services and how brokers use them. Another example is the American Medical Association which sets rules for ethics, conflicts, disciplinary action, and accreditation in medicine.
BBB National Programs is an example of an organization that houses multiple SROs, such as the Children's Advertising Review Unit, (CARU) and the National Advertising Division (NAD), formerly known as the Advertising Self-Regulatory Council, which is the U.S. advertising industry's self-regulatory body. In addition to setting guidelines, these programs provide third-party accountability and dispute resolution services to companies, outside and in-house counsel, consumers, and others in arenas such as privacy, advertising, data collection, child-directed marketing, and more.
KazakhstanEdit
The law "On self-regulation" was adopted by the Parliament of Kazakhstan in 2015.[1]
RussiaEdit
In 2007 Russia has adopted a law regulating SROs.[2][3]
^""On self-regulation" The Law of the Republic of Kazakhstan dated 12 November 2015 № 390-IV LRK". "Adilet" Legal information system of Regulatory Legal Acts of the Republic of Kazakhstan. Retrieved 2023-03-22.
^"Federal Law of the Russian Federation "About self-regulatory organizations"". cis-legislation.com. from the original on 2021-06-24. Retrieved 2021-06-23.
^"Закон "О саморегулируемых организациях"". Российская газета (in Russian). from the original on 2021-06-21. Retrieved 2021-06-23.
October 23, 2023
self, regulatory, organization, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, examples, perspective, this, article, represent, worldwide, view, subject, improve, this. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages The examples and perspective in this article may not represent a worldwide view of the subject You may improve this article discuss the issue on the talk page or create a new article as appropriate June 2021 Learn how and when to remove this template message This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Self regulatory organization news newspapers books scholar JSTOR December 2009 Learn how and when to remove this template message Learn how and when to remove this template message A self regulatory organization SRO is an organization that exercises some degree of regulatory authority over an industry or profession The regulatory authority could exist in place of government regulation or applied in addition to government regulation The ability of an SRO to exercise regulatory authority does not necessarily derive from a grant of authority from the government Contents 1 United States 1 1 Examples 2 Kazakhstan 3 Russia 4 See also 5 ReferencesUnited States EditIn United States securities law a self regulatory organization is a defined term The principal federal regulatory authority the Securities and Exchange Commission SEC was established by the federal Securities Exchange Act of 1934 The SEC originally delegated authority to the National Association of Securities Dealers NASD now Financial Industry Regulatory Authority FINRA and to the national stock exchanges e g the NYSE to enforce certain industry standards and requirements related to securities trading and brokerage On July 26 2007 the SEC approved a merger of the enforcement arms of the NYSE and the NASD to form a new SRO the Financial Industry Regulatory Authority FINRA In addition Congress created the Municipal Securities Rulemaking Board MSRB as an SRO charged with adopting investor protection rules governing broker dealers and banks that underwrite trade and sell tax exempt bonds 529 college savings plans and other types of municipal securities Examples Edit The American Arbitration Association is also an SRO with official statutory status Because of the prominence of the SROs in the securities industry the term SRO is often used to narrowly to describe an organization authorized by statute or government agency to exercise control over a certain aspect of the industry The National Association of Realtors NAR is an example of an SRO that fills the vacuum left by the absence of government oversight or regulation The NAR sets the rules for multiple listing services and how brokers use them Another example is the American Medical Association which sets rules for ethics conflicts disciplinary action and accreditation in medicine BBB National Programs is an example of an organization that houses multiple SROs such as the Children s Advertising Review Unit CARU and the National Advertising Division NAD formerly known as the Advertising Self Regulatory Council which is the U S advertising industry s self regulatory body In addition to setting guidelines these programs provide third party accountability and dispute resolution services to companies outside and in house counsel consumers and others in arenas such as privacy advertising data collection child directed marketing and more Kazakhstan EditThe law On self regulation was adopted by the Parliament of Kazakhstan in 2015 1 Russia EditIn 2007 Russia has adopted a law regulating SROs 2 3 See also EditIndustry self regulation Outline of organizational theory Institute of Internal Auditors self regulationReferences Edit On self regulation The Law of the Republic of Kazakhstan dated 12 November 2015 390 IV LRK Adilet Legal information system of Regulatory Legal Acts of the Republic of Kazakhstan Retrieved 2023 03 22 Federal Law of the Russian Federation About self regulatory organizations cis legislation com Archived from the original on 2021 06 24 Retrieved 2021 06 23 Zakon O samoreguliruemyh organizaciyah Rossijskaya gazeta in Russian Archived from the original on 2021 06 21 Retrieved 2021 06 23 Retrieved from https en wikipedia org w index php title Self regulatory organization amp oldid 1174497614, wikipedia, wiki, book, books, library,
