Zuckerberg resists effort by U.S. senators to commit him to regulation

Facebook Inc Chief Executive Officer Mark Zuckerberg

Facebook Inc Chief Executive Mark Zuckerberg on Tuesday navigated through the first of two U.S. congressional hearings without making any further promises to support new legislation or change how the social network does business.

During nearly five hours of questioning by 44 U.S. senators, Zuckerberg repeated apologies he previously made for a range of problems that have beset Facebook, from a lack of data protection to Russian agents using Facebook to influence U.S. elections.

But the 33-year-old internet mogul managed to deflect any specific promises to support any congressional regulation of the world’s largest social media network and other U.S. internet companies.

“I’ll have my team follow up with you so that way we can have this discussion across the different categories where I think this discussion needs to happen,” Zuckerberg told a joint hearing by the U.S. Senate’s Commerce and Judiciary committees, when asked what regulations he thought were necessary.

Investors were impressed with his performance. Shares in Facebook posted their biggest daily gain in nearly two years, closing up 4.5 percent.