There is no such control. You could further argue that if such control existed, it would almost certainly fail.
Certain industries have their own regulation; for example there's HIPAA for health care, SOX for publicly traded companies, and a whole panoply of regulation for defense and federal contractors. Most of these rules have nothing to do with IT security, but do affect and inform the way IT professionals have to look at their job.
And then there's a bunch of liability implication, from which you get strange things like the explicit prohibition against using iTunes at a nuclear facility or air traffic control tower.
But as for a federal agency setting rules and regulation to keep the Internet safe: no such thing exists.
There are several commercial organizations that offer security guidance; PCI-DSS, for example, is primarily a creation of Visa/MC/et.al., and compliance is a matter of contract adherence rather than regulatory control.
While PCI compliance isn't sufficient for real security, It's in the card industry's own best interest to continue to improve the policy as rapidly as manageable. US law makes Visa and other card issuers (rather than users or merchants) ultimately responsible for the cost of fraud involving their cards, so Visa is acting in their own self-interest by requiring some minimal level of security with respect to card usage.
Had such rules been prescribed by a government agency, they'd be subject to politics, lobbying, partisan bickering, and disproportional influence by well-connected organizations.
Instead, by setting up the incentives such that organization in the best position to make the rules (Visa et.al) stands the most to lose because of insecurity, these companies will naturally establish a baseline of security standards which matches the cost of exploit (from their perspective) with the cost of security (again, from their perspective).
To improve security standards further, the most effective regulation will put the cost of exploit not necessarily on the victim, but rather on the organization best positioned to improve conditions.