But the United Kingdom's Advertising Standards Authority, a non-governmental regulating organization, said it had received nearly 50 complaints from people who said the ad was offensive and violent and that it "encouraged anti-social behavior".
If self-regulating organizations have a saving grace, it is their ability to apply sanctions more liberally than the courts can.
In the United States, for example, the Securities and Exchange Commission delegates substantial authority to self-regulating organizations (SROs), which act as representatives of their industry who can design and implement rules that govern the practices of their members (Stefanadis, 2003).
If we want to get beyond the ideological fixation with deregulation that so many (including Alan Greenspan) have finally acknowledged failed to keep the system from doing itself in, then we need to put our faith and support behind strong public regulatory institutions, instead of the now-discredited Self-Regulating Organizations like FINRA and the AICPA.
Many of the reports on the exchange also focus on how it has lagged as a regulator, as the NYSE is famously a self-regulating organization.
The Securities and Exchange Commission plans to discuss on Tuesday the establishment of a self-regulating organization for mutual funds.
"There's an inherent conflict of interest when a self-regulating organization of brokerage firms has the responsibility to also protect the interests of investors," said Steven Caruso, the former president of the Public Investors Arbitration Bar Association, a self-regulating organization whose 500 lawyer-members represent investors in disputes with the securities industry.
"That would have made no sense for me to say because I have been on the board of the C.M.A.A. as a self-regulating organization for two decades," Mr. Levitz says, referring to the Comics Magazine Association of America.
The exchange is a self-regulating organization, meaning that–headed by its 22 directors it is charged with ensuring that its 365 member firms and 2,800 listed companies follow the rules designed to keep the stock market fair and competitive.
Miller told me they're setting up a self-regulating organization, like other agriculture commodities have, to set best-practice standards and uniform quality control.
Shortly before the game's release, the Entertainment Software Rating Board, a self-regulating organization, was formed in response to the increasing violence found in games such as 1992's Mortal Kombat.
