alternative to government control where an industry attempts to police itself is referred to as

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Self-regulation is the alternative to government control where an industry attempts to police itself, by setting its own standards, monitoring compliance, and taking corrective actions as necessary. This approach is based on the assumption that the industry can best understand its own needs and interests, and can apply its expertise and knowledge to ensure that its products and services meet the desired quality, safety, and ethical standards. While self-regulation can be effective in some cases, it is often criticized for lack of transparency, accountability, and enforcement power, especially when the industry is dominated by a few large players or when there are conflicting interests among stakeholders.

Alternative to Government Control Where an Industry Attempts to Police