Functions of Self-Regulatory Organization

Abstract

Self-regulatory organizations implement mainly the public interests and pursue objectives aimed at streamlining relations with regard to self-regulatory activities. Compulsory Membership in an SRO is not due to its status and the content of its functions. High-quality set of functions forms the peculiarities of the legal status specific of self-regulatory organizations. The transition from licensing to self-regulation implies increased activity and responsibility of the business (professional) community of interest of each member in the proper discharge of obligations by other members of the SRO. Corruption is not excluded here, but its place remains at the appropriate level of monitoring functions organization, thus achieving the efficacy of self-regulation compared to licensing. It is the activity of the business community, not the state that promotes the achievement of development aims, the successful modernization of the economy and social sphere, the formation of effective mechanisms of interaction between society, business and government through the creation of favorable conditions for entrepreneurial initiatives and improving competitiveness and investment attractiveness of Russian private companies. The competition between self-regulatory organizations is not possible due to formal reasons – they do not conform with the concept of an economic entity, which, however, does not exclude any competition between them.