First, the article mentions that Facebook does have multiple levels of internal oversight. I really don't think this kind of research can be externally regulated, and attempting to do so would just discourage publication of the findings. Businesses do controlled experiments on their customers all the time, with the most relevant example being A/B testing. The danger is extremely limited, and it seems like overreaching to have some sort of international IRB for all experiments that online businesses may need to conduct to optimize the content displayed to their visitors. Publishing research is a good thing.
Quotes in the article from research team employees suggested the opposite: that experiments were often run without anyone else on the team even knowing about it. That doesn't sound like oversight to me.
