Self-regulatory programs have advantages over government laws and regulatory agencies, such as:

Question

Quizplus · Accepted Answer

Self-regulatory programs can be established and implemented at a lower cost compared to government laws and regulatory agencies. They are also more realistic and operational, as they are developed by industry experts and stakeholders who have in-depth knowledge of the industry. Non-member firms may not be bound by self-regulation, but participating in these programs can demonstrate their commitment to ethical and responsible practices. Self-regulatory programs can also be tailored to the specific needs of the industry, making them more effective than one-size-fits-all government regulations.

Self-Regulatory Programs Have Advantages Over Government Laws and Regulatory Agencies