yes, there is an implicit deny of control protocols on inband. If you run the "show lpts ifib brief" you will see what kind of control packets are allowed, on which interfaces and where are they punted. "sh lpts pifib hardware police location <location>" will show you the policers associated with each entry.
A good explanation of LPTS is available in BRKSPG-2904 from CiscoLive 2014.
regards,
Aleksandar