As always, the Federal Reserve remains committed to employing its tools to best promote the attainment of its dual mandate. Thank you. I would be pleased to take your questions. 4  BIS central bankers’ speeches
The self-regulation has evolved significantly since then and linkages with regulatory authorities, often on a sound legal basis, were established mainly in the financial sector. Self-regulation generally imposes lower cost than official regulation whenever a shift is feasible. SROs possess the flexibility to adapt to regulatory requirements of rapidly changing business environment. They provide an intimate knowledge of the markets and products.