India, Feb. 18 -- British lawmakers issued a scathing report Monday that accused Facebook of intentionally violating privacy and anti-competition laws in the UK, and called for greater oversight of social media companies.

The report on fake news and disinformation on social media sites followed an 18-month investigation. The parliamentary committee that prepared the report says social media sites should have to follow a mandatory code of ethics overseen by an independent regulator to better control harmful or illegal content.

The report called out Facebook in particular, saying that the site's structure seems to be designed to "conceal knowledge of and responsibility for specific decisions." "It is evident that Facebook intentionally and ...