Regulation of the (open access) scientific publishing industry? No thanks...
It has been suggested elsewhere that open access publishing requires some sort of regulation. Scientific research is global, so how could a parochial regulator (e.g. in the UK) have any significant effect, unless researchers based in or recipients of funds from such a regulator are mandated to publish in regulated journals as a condition of the research project? Who would agree to such a restriction?
Open access advocates should learn from the predecessor open source software initiative; open source software has proven to be highly successful in providing freedom to the computer software industry, without any apparent regulation other than existing mechanisms to allow a free market.