A self-regulatory organisation is a financial market participant that brings together companies or specialists in a particular field, which sets its own rules for its members and monitors compliance with them. Formally, it is not a government body, but its role is to bring order within the industry and reduce the number of violations.
Below is a self regulatory organizations list operating in various industries and countries.
SROs emerge where it is unprofitable or difficult for the state to directly control all market participants. Instead, part of the control is transferred to a professional community. The organization develops standards, monitors its members, and applies sanctions in case of violations. At the same time, it still operates within the law and under state supervision.
In practice, SROs are most commonly found in the financial sector, on stock exchanges, in investment and brokerage activities, and in areas where trust and transparency are important.
The main task of a self-regulatory organization is to ensure clear and uniform rules for all market participants. SRO membership required to work according to established standards and comply with requirements for reporting, disclosure of information and business ethics.
SRO membership also performs a supervisory function. It checks how participants comply with the rules, can conduct audits, and request reports and explanations. If violations are identified, institutions have the right to apply sanctions – from warnings and fines to temporary suspension of activities or expulsion from membership.
It is important that SROs often become the first line of supervision. They identify problems before they develop into systemic risks, thereby reducing the burden on government regulators.
Self-regulatory bodies exist in many countries and industries. A classic example is the US financial markets, where professional associations exercise a significant degree of control over brokers and dealers. A similar principle applies to stock and commodity exchanges, which set their own trading rules and requirements for participants.
In addition to finance, SROs operate in the fields of auditing, law, construction, medicine and other professional areas. The logic is the same everywhere: the market sets the standards itself, and the state ensures that these standards do not conflict with the law.
In Switzerland, the self-regulatory organization model is particularly widely used in the financial sector. As of 2025, it is a key element in the regulation of financial intermediaries, payment companies and businesses related to cryptocurrencies.
Under Swiss anti-money laundering legislation, companies that provide financial services but are not directly supervised by FINMA are required to join one of the recognized self-regulatory organizations. This is a mandatory requirement, not a voluntary choice.
Self-regulatory organizations in Switzerland are officially recognized by FINMA. They operate as private organizations but perform a function of public importance: they monitor compliance with anti-money laundering and counter-terrorist financing regulations.
Swiss SRO establishes detailed rules for its members: how to verify customers, how to record transactions, how to identify suspicious transactions, and how to store documentation. These rules are based on the law, but are set out in more specific terms and are applicable in practice.
Among such organisations, there is a whole list of self regulatory organizations that perform similar functions in different countries and industries in terms of developing standards and monitoring compliance with them.
SRO membership required to implement internal control procedures and regularly confirm their implementation. The institution conducts audits and may require process adjustments and reporting.
At the same time, SRO itself is also supervised by FINMA. The regulator checks how effectively the organization controls its members. If the SRO fails to fulfil its obligations, it may be stripped of its recognition.
Organizations must comply with mandatory requirements for customer identification, data storage and transaction monitoring. Its responsibilities also include compliance with consumer identification and risk analysis requirements. After all, joining an SRO implies real responsibility, not just formal participation.
Particular attention should be paid to AML and CFT. Any non-compliance in this area is strictly investigated and may result in serious consequences. This includes verifying the sources of funds, monitoring suspicious transactions and, if necessary, reporting information to the relevant authorities.
SRO frequently inspects its members. It is worth noting that such inspections are by no means an exception, but rather a normal and routine part of the work.
It is important to understand that SRO membership brokers don`t constitute a full licence in the traditional sense. Similarly, the SRO does not grant a firm standard authorisation to conduct any financial activity. In short, it provides confirmation that the business has built its internal processes in accordance with legal requirements. First and foremost, this refers to the area of money laundering.
SRO membership is suitable for firms with a limited range of financial operations. For example, this applies to consultants and intermediaries. However, bear in mind that a single SRO will not be sufficient if your activities become more complex. This refers to cases where client funds are managed, deposits are accepted, or any other form of direct handling of funds occurs. In this case, a direct FINMA licence is required.
In this regard, SRO cannot replace licensing. It acts as an additional level of control. At the same time, FINMA exercises full control over licensed financial institutions.
For many companies, especially in fintech and crypto, SRO membership is the fastest and most straightforward way to operate legally in Switzerland. This route is easier and cheaper than obtaining a full license from the regulator, while still allowing companies to operate within the legal framework.
In addition, application membership SRO increases trust on the part of banks, partners and customers. This is critically important for the financial business, as without trust, access to infrastructure may be denied.
The SRO system is not universal. It is not suitable for all types of activities and does not solve all regulatory issues. Companies planning to scale up or enter international markets often face the need for stricter licensing.
Nevertheless, self-regulatory organizations remain an important element of the financial system. They allow for a combination of control, flexibility and responsibility without placing the entire burden on the state. That is why the SRO model continues to be actively used and developed in 2025.
A well-known example of an SRO is FINRA, which oversees brokerage firms and securities professionals in the United States.
SRO is a non-governmental body that has authority to create and enforce industry rules and standards for its members. SROs operate under oversight of a governmental regulator and aim to maintain fair practices, transparency, and investor protection within a specific industry.
SROs are used to regulate industries by establishing professional standards, ensuring legal compliance, preventing misconduct, and protecting consumers and investors.
In the USA, an SRO is an organization such as FINRA or NYSE that regulates financial markets and participants under oversight of the SEC.