There’s actually a whole group called the Acceptable Ads Committee who decides on making advertisements distinct and unintrusive… But they don’t have any policies regarding privacy invasion.
They also partner with popular ad blocking software developers, such as AdBlock Plus.
They also have eight members, via their other name “eyeo”, on the W3C PATCG committee (alongside Mozilla, Facebook, Google, more ad companies).
It’s worse: I would say every group is malicious. Ad companies try to look like they are policing themselves, in the hopes that they don’t suffer external regulation. But back when AdBlock Plus started this nonsense, people made uBlock Origin in response. People wouldn’t just take the ad industry at its word.
Now… For some reason, people have changed their minds.