May 11 After reports that users of the company's
financial terminals were investigating potential leaks of
confidential information, Bloomberg LP CEO Daniel Doctoroff
said that the company had made a "mistake" by giving journalists
access to data on clients' terminal usage.
The financial information and news company sought to assure
its customers that Bloomberg News journalists will no longer
have any information about what users of its terminals are
Bloomberg, whose financial data terminals are widely used on
Wall Street, had allowed journalists to see some information,
including when customers had last logged in, and how often they
used messaging or looked up data on broad categories - such as
equities or bonds.
Doctoroff said in a statement on Friday that reporters,
however, could not see which particular news stories clients
read, or the specific securities they viewed.
Goldman Sachs flagged the matter to Bloomberg in April after
a Bloomberg reporter in Hong Kong asked Goldman about a
partner's employment status, noting that the person had not
logged on in some time. Goldman argued that the information was
sensitive and should not be seen by journalists.
"Having recognized this mistake, we took immediate action,"
Doctoroff said in the statement posted on Bloomberg's blog.
"Last month we changed our policy so that all reporters only
have access to the same customer relationship data available to
The questions about Bloomberg reporters' access have moved
beyond Wall Street banks. The New York Times, citing people
briefed on the matter, reported that banking regulators at the
U.S. Federal Reserve are examining whether their own employees
were subject to tracking by Bloomberg reporters. A Fed
spokeswoman declined to comment.
Doctoroff said Bloomberg also created a new position of
client data compliance officer to continue to ensure that its
news operations never have access to confidential customer data.
No clients had canceled their subscriptions because of the
issue, a person briefed on the situation said on Friday.
Privately held Bloomberg has about 2,400 journalists
worldwide. The company gets the bulk of its revenue from
terminal sales to financial institutions. It has more than
315,000 terminal subscribers globally. Last year it posted
revenue of $7.9 billion.
Thomson Reuters' , the parent of Reuters
News, competes with Bloomberg.
In a statement, Thomson Reuters said the news division
operates "completely independently with reporters having no
access to non-public data on its customers, especially any data
relating to its customers use of its products or services.
"Thomson Reuters collects and analyses customer data to
improve product functionality and customer experience. There
are strict controls in place that prevent access of this data in
any form by Reuters or other staff without permitted use," the