The premise of a guild is control, that is its design. While guildsmen are honorable to one another, they are fierce competetors with non guildsmen. Strongarming, blackmail, framing even arranging an accident or two aren't out of the question, but outright murder is. There are the standards the thieves guild professes, and the standards they survive by, I'm sure. There's also no telling how much influence the highest government of a provence has over its thieves guild, it would make for an apt crime deterent and profitable enterprise...
The MG made sure of that in MW about competition. Likewise, the DB actively hunts down free lance and rival assassin guilds. Sometimes they do issue an ultimatum to the assassin they are hunting, to force him in the guild or gamble his life away.
From what I understand, the Thieves Guild exists so that there are some regulation to thieves, like not murdering people in their homes you are stealing from and stealing from each other. Freelancers are looked heavily down upon, if not targeted for "mistakes".
EDIT: Okay, read a good book in DF that talked about the thieves guild. And it basically does regulate the rate of crime. As the author put it, a moderate amount of crime is good, and even lords and nobles approve of their operation. However, when a thief become greedy or stupid, the hammer does come down. By regulating the amount of crime, they keep out unsavory and amateurs out of the way, so they don't disrupt things or make a complete fool out of themselves. Those who accept the invitation to the guild is trained and kept from starving. Not to mention members can be sprung out of jail should things go sour. Now, if someone does decline the invitation to the TG, the freelancer's arms are probably going to be broken horrifically, have a bunch of "accidents" happen to the person, or "an anonymous tip" may come up whenever the person is likely to steal or is on the run.