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Post-IPO Facebook may get more D.C. scrutiny

Washington, Fri, 03 Feb 2012 ANI

Washington, Feb.3 (ANI): As Facebook angles to take the company public in pursuit of raising five billion dollars, the company may be upping the ante for more scrutiny from Washington.


Even before filing with the Securities and Exchange Commission on Wednesday, Facebook's bellwether status in the age of the social Web had prompted review from members of Congress, not to mention a 20-year proposed settlement of charges from the FTC that the social network violated user privacy.


Those policy challenges - and the threat of new regulation - may place Facebook more under Washington's microscope, reports The Politico.


"Our business is subject to complex and evolving U.S. and foreign laws and regulations regarding privacy, data protection, and other matters," Facebook noted as a risk factor in its so-called S-1 filing.


The word "privacy," in particular, appears 35 times in the document.


"Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our business practices, increased cost of operations, or declines in user growth or engagement, or otherwise harm our business," it added.(ANI)


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