"These are serious claims and we have suspended Cubeyou from Facebook while we investigate them", said Ime Archibong, vice president of product partnerships at Menlo Park, California-based Facebook, in an emailed statement.
The firm has also not immediately responded to questions on whether any other secret privacy tools were available exclusively to Facebook executives.
Battered by media reports that it "secretly" deleted CEO Mark Zuckerberg's posts from his recipients' inboxes, Facebook is now planning to make its "Unsend" feature available to its over two billion users in coming months.
The company has been dealing with the online privacy scandal since it was revealed that political consulting firm Cambridge Analytica mined the personal data of up to 87 million Facebook users before the 2016 presidential race.
Under what criteria Facebook would "authorize" ad buyers, the company did not say directly in the post.
In remarks to Sky TG24, chairman Giovanni Pitruzzella said the main focus of the case will be on the misleading message the social-media company passes on to its users.
Facebook also admits that it should not have given executives the delete feature before offering its to all Messenger users.
The political data-mining firm allegedly used ill-gotten Facebook user data in its efforts to sway elections.
Wigand said that European Union data protection authorities will discuss over the coming days "a strong coordinated approach" on how to deal with the Facebook investigation.
"Election interference is a problem that's bigger than any one platform, and that's why we support the Honest Ads Act".
The site does not sell or give away user information to advertisers, but "our service depends on your data", Sandberg told NBC.
"Our internal review continues, and we will cooperate fully with any investigations by regulatory authorities".
She says "Facebook has been co-operating with us and, while I am pleased with the changes they are making, it is too early to say whether they are sufficient under the law".
Sandberg said that starting Monday, the social network will put on top of its news feed "a place where you can see all the apps you've shared your data with and a really easy way to delete them".