Reserve Bank of India has notified that in view of the potential role of Self-Regulatory Organisations (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. The framework is based on the Omnibus Framework for recognition of Self-Regulatory Organisations 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. Interested entities seeking recognition as an SRO in financial markets may submit their application to the central bank, noted the RBI.
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