But less known is that the chat service offered by the privacy-obsessed Perzo boasts that its messages cannot be instantly read by snooping investigators at the Securities and Exchange Commission — or the NSA for that matter.
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That feature could infuriate regulators — who have used their quick access to non-encrypted chat and e-mail logs to buttress investigations into interest-rate rigging and high-frequency trading.
The SEC’s enforcement division, which only discovered the 11-year-old Bloomberg Chat service as an investigative tool as recently as five years ago, according to the former government official, benefited from it in a second way, too.
The SEC has seen a number of high profile players and coaches come and go over the years.
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