JPMorgan presses Bloomberg on reporters' access to data
By David Henry
NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N: Quote), one of the biggest customers of Bloomberg LP, said on Wednesday it has sent a formal legal request asking the financial data and news company to provide details of what bank information Bloomberg News reporters had been able to see.
JPMorgan's statement comes after Bloomberg acknowledged late last week that its reporters had limited access to data about clients' terminal usage, such as when a customer logs in, contacts the help desk or delves into the system for information about assets, such as equities or bonds.
The largest U.S. bank is seeking logs for five years of what precisely Bloomberg journalists accessed concerning the use of terminals by JPMorgan employees, a bank official said. Bloomberg has about 2,400 journalists worldwide.
JPMorgan said it is also seeking "confirmation" of controls that Bloomberg has put in place to stop future breaches.
The bank declined to provide a copy of what it described as a formal request from its legal department.
A Bloomberg spokesman declined to comment.
Bloomberg, which competes with Thomson Reuters Corp (TRI.TO: Quote), the parent of Reuters News, has said it restricted reporters' access to that information last month after another client, Goldman Sachs Group Inc (GS.N: Quote), complained.
Goldman flagged the matter to Bloomberg after the bank found that journalists had access to more information than it had realized, arguing the information was sensitive and should not be seen by reporters. Continued...