It's a shame self-regulation doesn't occur more often.
Here in Finland, VHS and DVD distribution of program materials were rated for audiences (does it suit children or not, etc) by a government agency. They wanted to raise money for the government. So, even if a program was rated for VHS, distributors couldn't use the same rating for DVD distribution; they had to pay another fee to get the DVD rating. Without government inspection, movies had to be distributed with K-18 (X-rated) label.
Eventually, one of the distributors got fed up when they were told to pay yet again for the new rating of "Little House on the Prairie", the nostalgic 1970's family series classic. The distributor simply said no, and decided to sell Little House as an X-rated DVD release. Supermarkets had to verify that buyers had photo ID and were over 18 years old. Parents were told it's forbidden to show the series to their children (it had been on air in prime time in 1970's and many remembered it fondly).
Everyone started to laugh at the government rating agency, and they gave up and changed the regulation.
She said every release had to be submitted for classification, since they often contained different material -- a slightly different edit of the main film, or "extra features" which occasionally needed changing, such as where the director's interview "The Making of Fluffy Bunny Adventures III" had him cursing about something.