DALLAS (CBSDFW.COM) – The Facebook IPO brings a new transparency and scrutiny Mark Zuckerberg hasn’t known before.

Dallas merger attorney Randy Ray at the Monk Wilson law firm says Security and Exchange Commission rules give you an inside look at Facebook’s governance.

The SEC has rules on disclosures of corporate information that will put Facebook under a kind of scrutiny it’s escaped until now.

He says it’s a transition that could create problems for a company accustomed to a free-wheeling way of operating. There could be some internal resistance to the demands of investor relations. Ray says the way Mark Zuckerberg recently bought Instagram would be nearly impossible now.