Framework for Recognition of Self-Regulatory Organisations
On 19th August, 2024, the Reserve Bank of India (RBI) issued a framework for recognition of Self-Regulatory Organisations (SROs) in financial markets.
- The framework is based on the 'Omnibus Framework for recognising SROs for Regulated Entities', issued by the RBI on March 21, 2024, with "necessary amendments to reflect the specificities and characteristics of SROs for financial markets".
Rationale
- The framework was introduced given the potential role of SROs in strengthening compliance culture among their members and also providing a consultative platform for policy-making.
About the Framework
Eligibility Criteria
- The SROs are to be set up as a not-for-profit company ....
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