Bloomberg News has Relationship with Largest "Expert Network"

Indications are that much of the new insider trading hoop dee dah will center around "expert networks" which provide information to hedge funds on indutries and companies.

This is what I wrote on Sunday:

These are networks of  current and former industry specialists that are organized to provide insight into industries and individual companies. They should be considered an upgraded, focused version of the Wall Street Journal. It is completely absurd to bring charges against money managers using such news services. And this doesn't even touch the fact that insider trading, itself, is in most cases a dubious crime.

A bit more digging and I have found that the largest expert network,  Gerson Lehrman Group, actually has an agreement to provide access to its information analysts to Bloomberg News.

In a July press release, announced:

BLOOMBERG PROFESSIONAL® Service and Gerson Lehrman Group executives today announced that Bloomberg clients will get access to more than 50,000 leading business experts globally through an exclusive partnership with Gerson Lehrman Group.

The agreement offers clients of the Bloomberg Professional Service access to members of the Gerson Lehrman Group Councils -- networks of consultants, physicians, scientists, engineers, attorneys, market researchers and other professionals from around the world, who are referred to as GLG Council Members.

Through this new partnership, Bloomberg clients will be able to view profiles of select GLG Council Members; request consultations directly with those Council Members; and access news commentary, video, webcasts and teleconferences led by GLG Council Members globally. In addition, Bloomberg and Gerson Lehrman Group will jointly produce seminars and surveys that will be available exclusively to Bloomberg Professional Service users.

As I wrote on Sunday, the SEC is one step away from charging those who read WSJ, with insider trading.