Europe does, at least for Nintendo e-shop. For some reason Nintendo keeps managing both at the same time. When PEGI (Europe’s own ratings) is totally okay with a game, but Australia has a brain fart and thinks a retro-style shoot’m up with pixellated little spaceships shooting at each other needs to be mature, the game is suspended form the e-shop for both regions, generally for months.
There’s some weird ripple effect going on I think, it goes through an international rating system of which Australia’s one of the biggest member. But the fact still is a game that passes the (mostly) reasonable PEGI can still be removed from the shop if a very stupid butterfly flaps its wings on the other side of the world.
Also, getting over their fear of running water.