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.
As i understood, SRO is a subset of SRB. The difference between them is that SRO is given recognition & some level of authorities by a government body or agency.