Bloomberg boosts controls after scandals

Financial news service Bloomberg has announced a tightening of its internal controls three months after a scandal in which some of its reporters were found to be spying on clients via the company's stock market terminals.

Bloomberg said in a statement Wednesday that in addition to measures already taken, it will undertake other changes in its access policies and procedures, improve its training and enhance client security.

Among the new steps being taken, Bloomberg will hire a risk and compliance officer who will be in charge of client data security.

It added: "We have committed to ongoing third-party testing and reviews of our information security and client data controls. We will make the reports available to our clients."

Bloomberg will also restrict reporters' access to client data.