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Facebook CEO and co-founder Mark Zuckerberg.
Facebook CEO Mark Zuckerberg will be personally responsible for certifying the social network is following federal consumer privacy rules as part of a roughly $5 billion settlement with the Federal Trade Commission expected to be unveiled on Wednesday, according to a Wall Street Journal report on Tuesday evening.
Facebook - Earnings - Wednesday
Facebook is also scheduled to report second-quarter earnings on Wednesday.
The deal will require Zuckerberg to state each quarter that Facebook is complying with the settlement terms, the Journal reported, citing a person familiar with the matter. The certification is to be based on Zuckerberg's personal knowledge, the report said.
Facebook - FTC - Request - Comment
Facebook declined to comment. The FTC didn't immediately respond to a request for comment.
The broad strokes of the settlement have been rumored for months and Facebook has already set aside the...
(Excerpt) Read more at: CNET
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