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Bloomberg puts in place new trader info safeguards

August 21. 2013 9:40AM
Associated Press

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(AP) Financial data and news company Bloomberg LP says it is putting in place new policies and procedures designed to keep its journalists from accessing the private information of its Wall Street clients.

The moves stem from an outside review that followed complaints from Goldman Sachs that Bloomberg journalists were accessing client log-in activity on the company's trading information terminals.

In response, Bloomberg turned off its journalists' special access, limiting it to what clients can see themselves. It called the previous access a mistake.

Bloomberg said Wednesday that it will continue to restrict journalist access to client data.

It's also boosting its data security and corporate compliance controls, giving more oversight responsibilities to its audit committee and creating a centralized team that will oversee the granting of access to restricted data.

Associated Press

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