It seems to me that if we follow the example set by countries such as New Zealand and set up a marketable quota system we would eliminate a lot of the concerns from opposers of the quota system. In this system, quotas are tradeable based on values determined by a market. This way, there is a chance for growth for small-scale fisheries and the price is determined by the demand. Quotas are assessed on a monthly basis and new  fisheries can enter the market as well. They also use a royalty system of a few percent of the total value of the quota (I can't recall the exact amount), which would be a source of funding for the act and any enforcement required.

It can be difficult developing an attitude about fisheries protection.  Try reading Cod: the Fish that Changed the World (available on Amazon.)

personally, I think we need to create more marine reserves (like the Icelanders did-  notice how much of your store cod is Icelandic?).  One of the best potential ways to do this would be to directly occupy endangered areas with wind-turbine farms.   I'd stick a trial project right out in the Georges Bank, let the towers snag driftlines and thwart trawlers, while placing permanent human observers out in the field.  Mooring structures create habitat.  Hydrogen production could fuel boats.  Could have packing and refrigeration facilities too.  Perhaps such an efficient and profitable operation that it could economically regulate exploitation of the resource.

This is a permaculture idea applied to fisheries- always manage for multiple yields.

It is an excellent side benefit, offshore floating wind, wave, and ocean current power stations would make the huge pond nets that are destroying fisheries impossible to use.

Something diplomacy and international law hasn't been able to do.  Protect the national fishery with renewable energy.

Will it encourage new, hi-tech smarter fishing techniques that only harvest the targeted species and save the marine environment from the current devestation?  I think it could.

Fishermen using underwater cameras to operate gates in their equipment that would preselect the catch.  The collateral damage of commercial fishing in it's present state is awful.