The cheaper and more effective way is tk tbeeaten to jail any key decision nakers. Remove the freedoms they enjoy and abise and suddenly they start falling in line quickly.
It should be partial government ownership. That way the true 'company' the owners feel the penalty in the form of stock dilution. Plus no one wants the government on the inside and the pains that will come with that. And repeat offenders end up owned by the government.
Repeat offenders should be given fines at an exponentially increasing percentage. The more and frequent you offend, the more fines you pay.