Mainly the updates are done in two documents which are "Data Use Policy" and "Statement of Rights and Responsibilities". These documents will state and explain about the facts of using the data of its users like name, profile photo, what he has liked and posted , etc. These important data of the user may be used in advertisements.
Earlier was the policy which stated , "you can use your privacy settings to limit how your name and profile picture may be associated with commercial". This line has been removed and the new statement has been added.
The social networking giant would also have the data about the PC, mobiles, that are used to install applications. With that the information like IP address, browser , location and mobile phone number of the user will be accessible to them.