The FB Oversight Board is now calling for separating the judiciary branch at FB (judging cases, Xcheck lists) from the lobbyists. They haven't yet specifically opined on the legislative/executive branch functions also possessed by the lobbyists (writing community standards and approving execution of them via code proposals.)
Very interesting to see how FB reacts. Alex Stamos, Samidh, myself, and others have been advocating this for years.