The U.S. Federal Trade Commission is working on a settlement with Facebook that would help improve the social network's privacy practices, The New York Times reports. Negotiations have focused on Facebook adding privacy-related positions, including a privacy committee and an external assessor who would be hired by both Facebook and the FTC, in addition to paying an expected $3 billion to $5 billion fine. According to a Politico report, the FTC would ultimately have the final say in the hiring process for the assessor position, while the oversight committee is expected to meet quarterly and file periodic reports. What remains unknown with the potential positions is what authority they'll carry and if they will have a hand in developing corporate and product plans. (Registration may be required to access this story.)
Full Story