; (3) establish a process to periodically review and update the consumer protection program; (4) appoint a consumer protection officer, who reports directly to the chief executive officer; and (5) establish and implement controls to monitor and mitigate known or reasonably foreseeable risks to consumers resulting from hosting content or products. (c) Annual filings to the FTC (1) Filing requirements Each social media platform or online marketplace that either has annual revenue in excess of $250,000 in the prior year or that has more than 10,000 monthly active users on average in the prior year, shall be required to submit to the Commission, on an annual basis, a filing that includes— (A) a detailed and granular description of each of the requirements in section 2 and this section; (B) the name and contact information of the consumer protection officer required under subsection (b)(4); and (C) a description of any material changes in the consumer protection program or the terms of service since the most recent prior disclosure to the Commission. (2) Officer certification For each entity that submits an annual filing under paragraph (1), the entity’s principal executive officer and the consumer protection officer required under subsection (b)(4), shall be required to certify in each such annual filing that— (A) the signing officer has reviewed the filing; (B) based on such officer’s knowledge, the filing does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements, in light of the circumstances under which such statements were made, not misleading; (C) based on such officer’s knowledge, the filing fairly presents in all material respects the consumer protection practices of the social media platform or online marketplace; and (D) the signing consumer protection officer— (i) is responsible for establishing and maintaining safeguards and controls to protect consumers and administer the consumer protection program