In addition, the MMA voluntarily briefs the FTC every six months, keeping it informed about changes in the industry and how the MMA is keeping pace, he said. If a government agency starts setting mobile advertising policy, it probably would struggle to make changes as quickly as an independent group like the MMA, he argued.

Wehrs and Sterling both contended that the advertising industry would not want to abuse the trust of consumers because their businesses depend on them. "This is a case where consumers' interests and the interests of the marketing company are relatively aligned, in the sense that if you get a lot of spam, people will be angry and the marketing company will be unsuccessful," Sterling said.

Google, whose mobile practices are referenced repeatedly in the FTC filing, said it is "keenly aware" of its responsibility to protect user privacy. "Whether it's for a desktop or for a mobile platform or device, we design products that give users meaningful choices about how they use our services and what information they provide to us, and let users know when products may collect personally identifiable information. ... We want to work with industry on developing best practices on privacy and we welcome all efforts to do that," the company said in a statement.

Still, given that the U.S. may be leaning toward a more regulatory environment, in the shadow of a financial crisis that many blame on a lack of regulation, the FTC will likely consider launching an investigation, Sterling said. He expects the FTC to at least hold hearings about mobile marketing, and potentially call for new guidelines. But he doesn't expect the FTC to create any sort of stringent regulatory system.