World needs 21st century regulation to police gig economy: "By administering regulation through dedicated and more agile private sector organisations and businesses, we would give companies some choice over which scheme they came under. That would also create an incentive for private providers of regulation to compete to figure out how to deliver frameworks that achieve common goals with lower costs and less risk for regulated entities.
The UK government has already implemented a kind of super-regulation model in England and Wales with its reformed approach to regulating the markets for legal professional services. The 2007 Legal Services Act set out the required regulatory objectives under broad-based principles such as protecting the interests of consumers, and then created the Legal Services Board to approve regulators that can show their regulations achieve those objectives.
Today, nine regulators have been approved to regulate licensed legal activities.
Could a similar system work for a completely different business like ride-hailing. where operators face a range of regulatory regimes?" Er yes, it's called co-regulation. 'via Blog this'
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