The Securities and Exchange Commission is looking into whether Facebook gave investors enough warming about the possible misuse and improper gathering of users’ data, The Wall Street Journal reported Thursday. In March, it was revealed that data on 87 million Facebook users was allegedly misused by political consultancy Cambridge Analytica during the 2016 US presidentail campaign. Earlier this month, several federal agencies, including the SEC, the Federal Trade Commission and the Federal Bureau of Investigation joined the Department of Justice inquiry into the data scandal. The SEC has requested information from Facebook in an effort to learn how much the social networking company knew about Cambridge Analytica’s data use, according to the Journal. In addition, the SEC reportedly wants to learn how Facebook analyzed its risk as developers shared data with others against Facebook’s policies. The SEC and Facebook declined to comment. A Facebook representative did note that the company has previously said: “We are cooperating with officials in the US, UK and beyond. We’ve provided public testimony, answered questions, and pledged to continue our assistance as their work continues.” The SEC is also looking into whether Facebook should have told shareholders about Cambridge Analytica’s policy violation when it found out in 2015.
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