December 19, 2019 / 12:39 AM / a month ago

REFILE-UPDATE 1-BoE says third-party supplier misused bank's audio feed

(Corrects syntax in paragraph 5)

Dec 19 (Reuters) - The Bank of England (BoE) said on Wednesday that a third-party supplier accessed the audio feed of some of its press conferences without consent to provide services to other external clients.

The third-party supplier, whom the Bank of England did not name, had been misusing the audio feed since earlier this year, the bank said in a statement.

“This wholly unacceptable use of the audio feed was without the Bank’s knowledge or consent, and is being investigated further,” it added.

The supplier in question had been sending the feed to high-speed traders who seek to benefit from receiving comments of the bank's governor before others can, the Times newspaper said bit.ly/2M91fM5 in its report.

The Bank of England did not immediately respond to Reuters’ request for a comment on the report.

As the bank curbed the access once the misuse was identified, the supplier did not get to any of the most recent press conferences, and will also not be involved in any conferences in the future, the BoE said. (Reporting by Akshay Balan in Bengaluru; Editing by Aditya Soni)

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