a self-regulatory organization or industry sets its own standards and makes sure that its members obey the law, rather than being controlled by an independent organization
Creating a new self-regulatory organisation will bring substantial advantages in terms of increased investor protection.
The NFA is theself-regulatory body for the futures industry.
The commodities industry’sself-policing agency is considering raising its fees to members.
—self-regulation noun [uncountableU]
Germany needs more market controls to replace its system of self-regulation based on a voluntary code.