### Question
Can you define what self-regulatory organization means?


### Answer
**Self-regulatory organization** is defined as the following in *15 U.S.C. § 78c*:

> any national securities exchange, registered securities association, or registered clearing agency, or (solely for purposes of sections 78s(b), 78s(c), and 78w(b) [1](#78c_1_target) of this title) the Municipal Securities Rulemaking Board established by section 78*o*–4 of this title

#### Citation:
  - *15 U.S.C. § 78c*
  - Heading: **CHAPTER 2B-SECURITIES EXCHANGES**

