Cambridge Encyclopedia » Cambridge Encyclopedia Vol. 67

self-regulatory organization (SRO)

bodies time legislation government

A body which manages its own affairs and has its own rules of conduct, eliminating the need for government legislation. Lloyd's and the London Stock Exchange are two such bodies. From time to time the government may threaten to introduce legislation to ensure public control, usually if some adverse event has taken place. These bodies then modify their own rules to guard against any repetition of the problem.

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or