No. I have done a little research on the subject. Let's take the example of the Irish ombudsman. He falls under federal authority, he has coercive power and he is regulated by a board of directors, wherein consumers, public powers and industry are represented. Under the ombudsman's mandate, this board of directors can set various standards and regulations with respect to consumers. In Canada, codes of conduct have been developed by the Canadian Bankers Association. That's all very convenient.
On February 19th, 2007. See this statement in context.