Bloomberg may suspend or terminate a business relationship for legal or policy risk
Bloomberg reserves the right to suspend or terminate any business relationship, including the provision of services, in two situations. One is when the relationship violates applicable laws or regulations or presents the risk of violating them. The other is when it implicates activities or parties that do not comport with Bloomberg's policies and standards. A risk of violation is enough for the first; an actual violation is not required.
Details
Who
Bloomberg
What it does
suspend or terminate a business relationship, including the provision of services
Condition
the relationship violates or presents the risk of violating applicable laws or regulations, or implicates activities or parties not comporting with Bloomberg's policies and standards
Supporting quotations
Bloomberg reserves the right to suspend or terminate any business relationship (including the provision of services) that violates or presents the risk of violating applicable laws or regulations or that implicates activities or parties not comporting with our policies and standards.
Qualifications & exceptions
Covers suspension as well as termination, and "any business relationship (including the provision of services)".
The first trigger includes a risk of violating laws or regulations, not only an actual violation.
Not stated here
The notice does not identify the "policies and standards" it refers to, and no linked policy text is supplied.
The notice does not say who determines that a violation or risk exists or what evidence is needed.
Suspension or termination may have to happen immediately in some cases
The notice says that in certain instances Bloomberg may be required to suspend or terminate immediately. It does not say who or what imposes that requirement or which instances it means, so it should be read as a possibility that applies only in some cases, not as a general rule of immediate action.
Details
What it does
suspend or terminate immediately
Condition
in certain instances where Bloomberg may be required to act immediately
Supporting quotations
In certain instances, Bloomberg may be required to do so immediately.
Qualifications & exceptions
The wording is "in certain instances" and "may be required", so immediate action is described as a possibility in some cases.
Not stated here
The notice does not say which instances call for immediate action or what requires it.
The notice does not say whether any prior warning is given in such cases.
Bloomberg will attempt to notify the client or counterparty within a reasonable time
Bloomberg says it will attempt to notify the client or counterparty of a suspension or termination within a reasonable time. The commitment is to attempt notice, not to guarantee that notice is given or received, and no deadline is stated.
Details
Who
Bloomberg
What it does
attempt to notify of the suspension or termination
What it covers
the client or counterparty
When
within a reasonable time
Supporting quotations
Bloomberg will attempt to notify the client or counterparty of such suspension or termination within a reasonable time.
Qualifications & exceptions
The commitment is to "attempt" to notify, and the timing is "within a reasonable time".
Not stated here
The notice does not define a reasonable time or say how notice is given.
The notice does not say whether notice comes before or after the action, or whether a reason is included.