I love this initiative.

I also feel like there's a very clear private solution here which is creating a company for both employers and employees to use which requires more transparency from both.

This would essentially become a signal to both sides of the transaction that this is someone you want to do business with, and it's self-regulating.

Good recruiters can fill this function. Yeah, there's a lot of sleazy ones out there. But the better ones only take work from real companies that intend to actually hire and real candidates that are actually looking for jobs, and have the information to screen out bad actors on both sides.