Bloomberg Law adds SEC Tools

Bloomberg Law has added new Securities resources to the database.  SEC Administrative Enforcement Analytics analyzes the decisions of enforcement actions by the Securities and Exchange Commission, and aggregates all of these decisions (both initial and final) to provide a more detailed trend of decision outcomes.  According to Bloomberg Law’s press release, “the new tool covers settled SEC administrative actions, including the full text of SEC Administrative Orders, links to relevant statutes, and analytic visual representations of key data points and trends.”  This complements the SEC ALJ Enforcement Analytics tool, which analyzes unsettled decisions which go to the Administrative Law Judges.  These tools are both available under Bloomberg Law’s Securities Practice Center.

Changes within Thomson Reuters

Thomson Reuters is in the process of “rightsizing” their operations through reducing staff and management, as well as closing offices, according to Jean O’Grady.  This transition continues the trend of Thomson Reuters in recent years of downsizing their legal presence, including selling majority control of Financial & Business as well as closing their Rochester, NY office, which had been operating since the 1880s (prior to being acquired by Thomson Reuters).  According to O’Grady, this continued downgrading of human editors will further erode the quality of the legal publications under Thomson Reuters, and lead to growth in the artificial intelligence involvement in the editing process (which carries several drawbacks).  In the end it is unclear whether this move by Thomson Reuters represents a size-correction or downsizing to cut costs, as well as how the legal content will be affected.  Regardless of the intention, it is something that all users of their content should be aware of.

New Study Comparing Bloomberg Law’s SmartCode to Other Annotated Statutes

Jason Zarin examines the effectiveness of similar operating features of different vendors through comparisons between Bloomberg Law’s “SmartCode” annotated statutes and other annotated statutes, specifically (but not exclusively) the United States Code Annotated and United States Code Service.  In his SSRN articleA Comparison of Case Law Results Between Bloomberg Law’s “Smart Code” Automated Annotated Statutes and Traditional Curated Annotated Codes, Jason conducts similar queries within these tools to determine the effectiveness of the newer SmartCode as compared with the more established West and LexisNexis products.  This article adds to similar studies of the past two years, including comparisons of headnotes and search algorithms across the different databases.