I don't know if there would be any way for it to be required. But if there were some sort of label or something you could put on your website (like an ICANN seal of approval :) ), and it was widespread enough, it could help regulate the industry.

On the other hand, I don't know if there's anything truely wrong with the typical high school kid services that often get mentioned. The laws of econimcs will take care of them. If they provide poor service, they don't last, if they provide good service, they can grow into a large provider. At the same time, there are large companies that are subject to the same laws.