In view of the potential role of Self-Regulatory Organizations (SROs) in strengthening compliance culture among their members and also providing a consultative platform for policy making, the Reserve Bank of India has, today, issued the Framework for recognition of SROs in Financial Markets.
2. The framework is based on the ‘Omnibus Framework for recognition of Self Regulatory Organization’s for Regulated Entities of the Reserve Bank’ issued on March 21, 2024 and specifies the broad parameters, viz., objectives, responsibilities, eligibility criteria, membership, governance standards and application process for the recognition of SROs in financial markets.
3. Interested entities seeking recognition as an SRO in financial markets may submit their application through email or to the Chief General Manager, Financial Markets Regulation Department, Reserve Bank of India, Central Office, 9th Floor, Shahid Bhagat Singh Marg, Mumbai – 400 001.
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