Self-Regulation
/ˌsɛlf ˌrɛɡjʊˈleɪʃən/
Definitions
- (n.) The process by which an entity, such as an organization or industry, monitors and enforces its own adherence to laws, regulations, or ethical standards without external enforcement.
The financial industry relies heavily on self-regulation to maintain compliance with legal requirements.
- (n.) An individual's or entity's ability to regulate or control their own actions and behaviors in accordance with legal or ethical norms.
Self-regulation by corporate boards can prevent conflicts of interest and promote good governance.
Related terms
See also
Commentary
Often used to describe industry-based governance mechanisms that preempt government intervention; drafting should clarify scope and legal effect of such mechanisms.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.