When you buy a product you enjoy, you usually expect the quality you’ve received in the past. There are plenty of industry standard certifications and similar organizations in other industries – but few exist within the legal cannabis sector. Organizations such as the National Association of Cannabis Businesses (NACB) seek to be one of the first of their kind to fill this industry need.
What Are SROs?
Self-regulating organizations (SROs) are groups that uphold organizational and industry standards. SROs are not publicly funded government agencies, but rather are made up of voluntary members working in various professions. Examples of SROs include The American Medical Association (AMA), The Financial Industry Regulatory Authority (FINRA) and the National Association of Realtors (NAR). An SRO audits their members to ensure transparency, quality of product or service, and upholding honesty and integrity. SROs are still subject to government laws and regulations.