Journalists and Media Industry Urge Revisions to Market Abuse Directive

The European Federation of Journalists (EFJ) and other organizations have joined forces to express their concerns over the draft Directive on Market Abuse, which they believe poses a significant threat to press freedom and the role of journalists in financial reporting. In a joint letter to the members of the EP Committee on Economic and Monetary Affairs, the EFJ and other organizations have called for urgent revisions to the directive to address these concerns.

The draft directive, aimed at preventing market abuse and preserving the integrity of European financial markets, has raised alarm bells among journalists and press freedom advocates. The EFJ argues that the current text of the directive could lead to the prosecution of financial journalists and threaten journalistic inquiry into a range of business activities. The organization has condemned the plans for the directive, stating that it could expose financial journalists to the threat of criminal proceedings for their reporting of financial news and capital markets.

The EFJ is particularly concerned about the implicit threat to press freedom posed by the directive, as it could expose journalists to the risk of criminal proceedings for their reporting activities. The organization has called for an exemption within the directive for journalists and media organizations, as well as more public debate on the measure. The EFJ's concerns are rooted in the potential for the directive to criminalize editorial mistakes and prevent journalists from doing their jobs effectively.

The EFJ's letter highlights the importance of self-regulation in journalism and the need for EU policy makers to encourage media professional groups to put in place effective structures that will deal with the possibility of journalists misleading the market with false information. The organization argues that market abuse needs to be dealt with, but it cannot be that journalists and the media should become victims of Europe Union ambitions to secure the integrity of financial markets.

The EFJ has written to the European Parliament seeking amendments to the draft directive and is also calling for more public debate on the measure. The organization is determined to ensure that the directive does not infringe upon press freedom and the role of journalists in financial reporting.

In conclusion, the draft Directive on Market Abuse has raised serious concerns among journalists and press freedom advocates regarding its potential impact on the freedom of the press and the role of journalists in financial reporting. The European Federation of Journalists and other organizations have called for urgent revisions to the directive to address these concerns and ensure that the directive does not infringe upon press freedom. The EFJ's letter highlights the importance of self-regulation in journalism and the need for EU policy makers to encourage media professional groups to put in place effective structures that will deal with the possibility of journalists misleading the market with false information. The EFJ is determined to ensure that the directive does not undermine the integrity of financial markets while also protecting the freedom of the press and the role of journalists in financial reporting.