2.3.2. Self Regulatory Authorities

These Authorities are created under different laws but they are self-regulatory in nature. The functions of Self-Regulatory Bodies may include:

I. Issues of professional education

II. Matters connected with licensing

III. Ethical conduct of the practitioners.

A self-regulatory authority has the power to create and enforce stand-alone industry and professional regulations and standards on its own. For instance, in the financial sector, the Stock Exchanges (BSE/NSE in India), protect investors by establishing rules, regulations, and set standards of procedures which promote ethics, equality, and professionalism.

Similarly, Press Council of India(PCI) is a self-regulatory watchdog of the press, for the press and by the press, that operates under the Press Council Act of 1978.