I can't really speak for the rest of Canada because our organization is primarily based in Quebec. So let me tell you about Quebec, because I have no detailed knowledge about the situation in other Canadian provinces.
We have the Fédération professionnelle des journalistes du Québec, the FPJQ, but we also have the Quebec Press Council, which you must also know. It's a self-regulating system. The council is basically made up of journalists, of media employers, and of representatives from the public. It handles complaints. When complaints about journalistic work are filed by members of the public, they are heard by a committee representing the three groups I have just named. They check for breaches of ethics. Any penalties are moral in nature. The penalties are not financial or of any other kind. But I know no journalist who likes to receive a black mark from the press council.
To my knowledge, the Quebec Press Council system is quite unique in Canada. I can't think of an equivalent anywhere else. So we have to celebrate the dynamic nature of the Quebec media industry and the way it regulates itself. It's not perfect, but is still a cut above anything else in the rest of Canada, or in the United States, where things are worse.