United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2007-11-15 monographic deposited born digital 73 p. GA 1.13:GAO-08-33 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-33 P0b002ee18039d5c7 f:d0833 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-08-33 machine generated eng fdlp REPORT GAOREPORTS-GAO-08-33 GAO-08-33 Audits Banking regulation Federal regulations Financial analysis Financial management Inspection Internal audits Internal controls Program evaluation Regulatory agencies Risk assessment Securities regulation Security regulations Stocks (securities) Trade regulation Other Written Product A78172 Self-regulatory organizations (SRO) are exchanges and associations that operate and govern the markets, and that are subject to oversight by the Securities and Exchange Commission (SEC). Among other things, SROs monitor the markets, investigate and discipline members involved in improper trading, and make referrals to SEC regarding suspicious trades by nonmembers. For industry self-regulation to function effectively, SEC must ensure that SROs are fulfilling their regulatory responsibilities. This report (1) discusses the structure of SEC's inspection program for SROs, (2) evaluates certain aspects of SEC's inspection program, and (3) describes the SRO referral process and evaluates SEC's information system for receiving SRO referrals. To address these objectives, GAO reviewed SEC inspection workpapers, analyzed SEC data on SRO referrals and related investigations, and interviewed SEC and SRO officials. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-33/html/GAOREPORTS-GAO-08-33.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-08-33/pdf/GAOREPORTS-GAO-08-33.pdf GAO-08-33 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-08-33 Other Written Product GAO-08-33; Securities and Exchange Commission: Opportunities Exist to Improve Oversight of Self-Regulatory Organizations; Audits Banking regulation Federal regulations Financial analysis Financial management Inspection Internal audits Internal controls Program evaluation Regulatory agencies Risk assessment Securities regulation Security regulations Stocks (securities) Trade regulation Volume 116 Page 745 116 Stat. 745 Public Law 107-204