Both Squalene and Squalane are considered safe cosmetic ingredients in the present practices of use and concentration

Squalene was used in 18 cosmetic products in 1976, with the largest use occuring in moisturizing preparations at concentrations >10%. In 2001, Squalene was used in 29 products (FDA 2001), at a maximum use concentration of 10% in face powders (CTFA 2001 ). Squalane was used in 400 products in 1976, with the largest use occuring in moisturizing preparations at concentrations of> 25%. In 2001, Squalane was used in 595 products (FDA 2001), at use concentration up to 97% reported for face and neck skin care preparations (CTFA 2001).

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6253993