itsesääntelyelin

Itsesääntelyelin is a Finnish term that translates to "self-regulatory body" or "self-regulatory organization" in English. It refers to a type of entity, often a professional association or industry group, that establishes and enforces its own rules and standards within a specific sector. These bodies operate independently of direct government control but are often recognized or authorized by the state to oversee the conduct of their members.

The primary function of an itsesääntelyelin is to maintain professional competence, ethical conduct, and quality standards within its domain. This can involve setting educational requirements for entry into the profession, developing codes of conduct, handling complaints from the public or other members, and imposing disciplinary actions when rules are violated. Examples might include bodies governing lawyers, doctors, accountants, or specific industries like financial services.

The rationale behind self-regulation is that those with specialized knowledge in a field are best equipped to understand and manage its complexities. It can lead to more responsive and tailored regulation compared to government oversight, potentially fostering innovation and efficiency. However, concerns can arise regarding conflicts of interest, the effectiveness of enforcement, and the potential for self-serving practices that prioritize the interests of the profession over those of the public. The degree of government oversight and the legal standing of the rules set by an itsesääntelyelin can vary significantly depending on the specific sector and national legal framework.