Facebook and the Federal Trade Commission (FTC) are negotiating a settlement that would involve greater oversight of the company’s privacy practices, according to media reports this week.<\/p>\n
On Friday, The Washington Post reported that Facebook had told the agency it was willing to undergo privacy assessments of its business practices as part of a settlement to end the FTC’s yearlong probe into the company.<\/p>\n
Any such concession would reportedly be in addition to a potential record fine against the social network. Last week, Facebook revealed that it was anticipating a fine of up to $5 billion.<\/p>\n
Politico first reported that the concessions were part of the negotiations earlier this week.<\/p>\n
The settlement has yet to be completed and would still be subject to a vote from the FTC’s five commissioners.<\/p>\n
The proposal for increased oversight would reportedly include a person appointed by regulators to oversee privacy practices within the company and it would designate Facebook CEO and Chairman Mark Zuckerberg as the compliance officer. It could also involve a “privacy committee” within the company consisting of board members and other officials.<\/p>\n
Facebook and the FTC declined to comment on the reports.<\/p>\n","protected":false},"excerpt":{"rendered":"
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