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self-regulating organization

British  

noun

  1.  SRO.  one of several British organizations set up in 1986 under the auspices of the Securities and Investment Board to regulate the activities of London investment markets

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

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Hence, the banking sector had become a kind of self-regulating organization, writing its own legislation, weighing in on key appointments to oversight bodies.

From Washington Post • Sep. 20, 2013

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