Facebook near settlement with FTC?

WASHINGTON, Nov. 10 (UPI) -- Facebook Inc. would tighten its privacy rules under a proposed settlement with U.S. regulators, sources tell The Wall Street Journal.

The plan would also include independent audits of Facebook privacy controls for the next 20 years, the newspaper said, citing "people familiar with the situation." Google Inc. agreed in March to similar audits over the same time span.

The Federal Trade Commission must approve the settlement.

In late 2009, Facebook loosened its privacy restrictions, making members' information public unless they specifically opted to limit access to it. Chief Executive Officer Mark Zuckerberg described the new system as a "simpler model for privacy control."

Under the settlement, Facebook users would once again be asked what information they wanted visible to the public, with some changes retroactive.