Five Years of Impact: CISR and the Rising Power of Industry Self-Regulation
Howard Smith, Executive Director, Center for Industry Self-Regulation
This week, we mark a significant milestone: the fifth anniversary of BBB National Programs’ Center for Industry Self-Regulation (CISR). Founded in September 2020, CISR was born out of a bold vision: to harness the historic power of industry self-regulation and empower businesses to lead with accountability, transparency, and trust. Five years later, that vision is making clear that self-regulation is not just a policy alternative – it is a strategic imperative.
CISR was established as a 501(c)(3) non-profit to serve as a hub for research, education, and incubation of new self-regulatory programs. Its mission is clear: to educate policymakers and business leaders on how effective self-regulation can address marketplace challenges and, in doing so, help foster solutions that may lessen the need for additional government intervention while working in harmony with existing regulatory frameworks.
From the outset, CISR recognized that expanding the use of self-regulation requires more than good intentions—it demands rigorous academic research, thoughtful convenings, and actionable policy frameworks.
But we are not just concerned about today. CISR saw a gap in how future business, law, and policy leaders are trained. Accordingly, in 2025, CISR developed the nation’s first graduate-level curriculum on industry self-regulation as a form of “soft law.”
Supported by the John Templeton Foundation, this investment in our future, successfully piloted at Arizona State University’s Sandra Day O’Connor College of Law, is being adopted by law schools across the country. This curriculum equips students with the tools to understand how “soft law” mechanisms like codes of conduct and voluntary standards can complement or even outperform traditional regulatory approaches.
In 2026, the curriculum modules will be adapted for graduate business and public policy schools to teach in their classrooms.
Across the country at both the federal and state levels, regulation and its use cases are in flux. Independent, accountable self-regulation allows industries to respond quickly, set meaningful standards, and hold themselves to a high level of transparency. It is not about avoiding regulation but rather superseding or complementing it with proactive, responsible leadership. As Eric Reicin, President and CEO of BBB National Programs, recently noted, “Thoughtful and accountable industry self-regulation is not just a stopgap; it is a strategy for long-term public trust and sustainable industry growth.”
CISR invites forward-thinking policymakers, academic scholars, and business leaders to join this movement. Whether through research partnerships, engagement in educational initiatives, or participation in developing and incubating new self-regulatory initiatives, there are countless ways to contribute to a more ethical and resilient marketplace.
CISR set out to educate and illustrate how industry can, and should, lead itself responsibly. Today, five years later, we remain dedicated to showing what is possible when businesses commit to doing better, not because they are forced to, but because it is the right thing to do.
As we celebrate this 5th anniversary, we honor the progress made and recommit to the journey ahead. The challenges are real, but so is the opportunity.
This week, we mark a significant milestone: the fifth anniversary of BBB National Programs’ Center for Industry Self-Regulation (CISR). Founded in September 2020, CISR was born out of a bold vision: to harness the historic power of industry self-regulation and empower businesses to lead with accountability, transparency, and trust. Five years later, that vision is making clear that self-regulation is not just a policy alternative – it is a strategic imperative.
CISR was established as a 501(c)(3) non-profit to serve as a hub for research, education, and incubation of new self-regulatory programs. Its mission is clear: to educate policymakers and business leaders on how effective self-regulation can address marketplace challenges and, in doing so, help foster solutions that may lessen the need for additional government intervention while working in harmony with existing regulatory frameworks.
From the outset, CISR recognized that expanding the use of self-regulation requires more than good intentions—it demands rigorous academic research, thoughtful convenings, and actionable policy frameworks.
Advancing the Intellectual Underpinning of Self-Regulation
One of CISR’s most impactful contributions has been its investment in research and education. Early on we recognized that a wider understanding of industry self-regulation, and its areas of opportunity, is necessary. As a result, CISR has invested in commissioning academic research from scholars across the country who are interested in self-regulation as a viable regulatory policy alternative. Thus far CISR has commissioned 31 research papers from esteemed scholars at leading academic institutions.But we are not just concerned about today. CISR saw a gap in how future business, law, and policy leaders are trained. Accordingly, in 2025, CISR developed the nation’s first graduate-level curriculum on industry self-regulation as a form of “soft law.”
Supported by the John Templeton Foundation, this investment in our future, successfully piloted at Arizona State University’s Sandra Day O’Connor College of Law, is being adopted by law schools across the country. This curriculum equips students with the tools to understand how “soft law” mechanisms like codes of conduct and voluntary standards can complement or even outperform traditional regulatory approaches.
In 2026, the curriculum modules will be adapted for graduate business and public policy schools to teach in their classrooms.
Why Self-Regulation Matters More Than Ever
In today’s fast-paced, innovation-driven economy, regulation often lags behind technology. From AI and data privacy to sustainability and consumer protection, industries face challenges that are too dynamic to be addressed by traditional regulation alone.Across the country at both the federal and state levels, regulation and its use cases are in flux. Independent, accountable self-regulation allows industries to respond quickly, set meaningful standards, and hold themselves to a high level of transparency. It is not about avoiding regulation but rather superseding or complementing it with proactive, responsible leadership. As Eric Reicin, President and CEO of BBB National Programs, recently noted, “Thoughtful and accountable industry self-regulation is not just a stopgap; it is a strategy for long-term public trust and sustainable industry growth.”
Celebrating Progress and Looking Ahead: A Call to Action
As CISR enters its sixth year, the need for its work has never been greater. Public trust in institutions is waning, regulatory landscapes are evolving, and consumers are demanding more accountability. In this environment, industry self-regulation offers a path forward—one that is collaborative, adaptive, and rooted in shared values.CISR invites forward-thinking policymakers, academic scholars, and business leaders to join this movement. Whether through research partnerships, engagement in educational initiatives, or participation in developing and incubating new self-regulatory initiatives, there are countless ways to contribute to a more ethical and resilient marketplace.
CISR set out to educate and illustrate how industry can, and should, lead itself responsibly. Today, five years later, we remain dedicated to showing what is possible when businesses commit to doing better, not because they are forced to, but because it is the right thing to do.
As we celebrate this 5th anniversary, we honor the progress made and recommit to the journey ahead. The challenges are real, but so is the opportunity.