The terms of a potential settlement with the FTC would require Facebook to place an executive and a new committee in high-level privacy roles
Facebook and the Federal Trade Commission are negotiating a possible settlement that would require the company to place privacy-minded executives at the company's highest levels, a source close to the talks told POLITICO on Wednesday — in addition to paying the expected multibillion-dollar fine it disclosed last week.
A spokesperson for the office of FTC Chairman Joe Simons declined to comment. A Facebook spokesperson also declined to comment.Sign Up Under the proposed Facebook settlement, the source said, the FTC would "essentially" have veto power over the choice of the federally approved privacy executive, called an "assessor," and said the new privacy oversight committee would meet quarterly and issue periodic reports on the company's privacy practices.
One prominent privacy advocate said the proposed settlement, even with a record-setting fine and new governance structure on privacy, does not go far enough."The additional remedies are not meaningful," Marc Rotenberg, executive director of the Electronic Privacy Information Center, told POLITICO. "Creating an independent office, or an office within Facebook — which by the way, is not independent — does not establish new privacy obligations, nor does it ensure compliance.
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