JP Morgan bankers have been banned from reading the Financial Times at work

Staff at US investment bank JP Morgan can no longer access the online version of the Financial Times on work computers, the bank confirmed on Wednesday, citing the desire to "avoid a potential copyright concern."

Bankers have been blocked from accessing the site since last week, a bank spokeswoman told Business Insider by email on Wednesday.

Staff can still use their own personal devices to access FT articles, but can only do so if "they respect intellectual property rights outlined in our Code of Conduct," the statement added.

It is unclear exactly what the "potential copyright concern" regards, although Paul Murphy, the founding editor of the FT's Alphaville blog wrote on the blog's Markets Live section: "Well, no - it's not a copyright row - it's cos they were sharing FT content around the JPM buildings, but not paying for a license."

"Journalism costs money," he added.

The Financial Times declined to comment on the matter. The story was first reported on Twitter by The Times' City Editor Harry Wilson.

The FT has a heavily paywalled online product, with group online subscriptions costing £336 ($410.57) per person, according to its website.

On an individual basis, a premium digital subscription costs £7.75 ($9.47) per week, equivalent to £403 ($492.44) annually. Without a subscription, readers can only access a tiny proportion of the FT's content.