FTC To Hold Facebook CEO Mark Zuckerberg Liable For Any Future Privacy Violations
Under a settlement with the Federal Trade Commission, the company will pay $5 billion and its co-founder could be subject to penalties if Facebook doesn't comply with the agreement.
Updated at 12:16 p.m. ET
Facebook CEO Mark Zuckerberg will have to personally answer to federal regulators under an agreement to settle a privacy case with the Federal Trade Commission that includes a $5 billion penalty for the giant social media company, the agency announced Wednesday. Separately, Facebook will pay $100 million to settle a case with the Securities and Exchange Commission for making misleading disclosures about the risk that users' data would be misused, the SEC said.
Under , Zuckerberg will be required to submit quarterly compliance reports directly to the federal regulators and to Facebook's board of directors. If the Facebook co-founder or "designated compliance officers" violate the agreement, they could be subject
