>Here in the US there is something known as a Professional
>Engineering license, more commonly know as a PE license.

In New Zealand this used to be called a Registered Engineer, with the 
registration being equivalent to chartered status with the IEEE, or similar 
body. I am not sure if they still use that term in NZ, or it may have 
migrated to Chartered Engineer.

>There is such a thing for EEs, but is rarely needed.  I don't
>have a PE license, for example, and it hasn't come up yet as a
>issue.  If it did, I'd go take the test but so far haven't had
>a need to do so.

I would guess one would need this to make medical devices, or sign off on 
spacecraft for human transportation ... 

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