SRO vs SRB

Hi Guys,

Can someone explain clearly the differences between SRO and SRB please?

Thank you!

Self regulatory bodies (SRB) - private organizations that derive their authority from members who agree to comply with rules/standards. They do not have force of the law, however. CFAI would be a good example.

Self regulatory organization (SRO) - Government or agency gives enforcement power and recognition. However it’s funded independently. Good example would be Ontario Securities Commission in Canada.