SRO

A Self Regulatory Organisation (SRO) is a investors watchdog, such as the Personal Investment Authority ( PIA ). SRO's were set up in 1986.

Overall responsibility for investor protection rests with the Department of Trade. It delegated the job to the City's leading regulator, the Financial Services Authority ( FSA ).

The FSA in turn recognizes a clutch of second tier regulators or SROs which are responsible for the day-to-day admin of investor protection in their respective fields of business.

Any UK company or individual carrying on an investment-related business must, by law, be a member of the relevant SRO.

For contact numbers, see regulators .

See Also: Online share dealing service Stockmarket Centre

Last Updated: April 2005 © Moneyextra.com

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