Without reference to this particular incident (I don't know enough about it to make an informed comment), there is sufficient or more then sufficient regulations to achieve safe flying operations. Compliance is another matter. The attitude to rules by too many is staggering combined with, in many cases, simply not knowing or understanding.
It might be time to rethink the standard required to be issued with a PC. Given that anyone can jump in a 100+kt aircraft, fly up to 10,000 ft with an endurance of around 5hrs, it could be argued that a PPL standard is required. Some believe the PC standard is up to PPL status - well I wouldn't even enter a debate on that, just look at the different attitudes of various schools to upgrading to an RPL.
Maybe the LP & HP restrictions might need to be revisited, even though they have just been removed. Certainly the average "standard" and "attitude" to flying needs a close look.
Without presuming to have the answers it is easy to see some glaring deficiencies.