updated 1/5/2011 3:36:20 PM ET 2011-01-05T20:36:20

Federal regulators are reviewing reporting rules for private companies after an investment deal between Facebook and Goldman Sachs helped the social networking giant delay going public, according to a published report.

The Securities and Exchange Commission has started to examine its rules following Goldman Sachs' $500 million investment in Facebook and other deals involving Internet companies, The Wall Street Journal reported Wednesday.

The rules require companies with 500 or more shareholders to publicly report financial information. Facebook's deal with Goldman Sachs creates a special fund that allows the social network site to stay under that threshold even though some investors will be able to buy up to $1.5 billion in Facebook shares.

SEC spokesmen declined to comment.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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