Case C-302/20

DECISION

Title: Judgment of the Court (Grand Chamber) of 15 March 2022. M. A v Autorité des marchés financiers. Request for a preliminary ruling from the Cour d'appel de Paris. Reference for a preliminary ruling – Single Market for financial services – Market abuse – Directives 2003/6/EC and 2003/124/EC – ‘Inside information’ – Concept – Information ‘of a precise nature’ – Information relating to the forthcoming publication of a press article reporting a market rumour about an issuer of financial instruments – Unlawfulness of the disclosure of inside information – Exceptions – Regulation (EU) No 596/2014 – Article 10 – Disclosure of inside information in the normal exercise of a profession – Article 21 – Disclosure of inside information for the purpose of journalism – Freedom of the press and freedom of expression – Disclosure by a journalist, to a usual source, of information relating to the forthcoming publication of a press article. Case C-302/20.
ECLI identifier: ECLI:EU:C:2022:190
Judge-Rapporteur: Biltgen
Type of procedure: Reference for a preliminary ruling
Complementary documents:: Communication published in the Official Journal

Abstract

15/03/2022

Title: Opinion of Advocate General Kokott delivered on 16 September 2021. M. A v Autorité des marchés financiers. Request for a preliminary ruling from the Cour d'appel de Paris. Reference for a preliminary ruling – Single Market for financial services – Market abuse – Directives 2003/6/EC and 2003/124/EC – ‘Inside information’ – Concept – Information ‘of a precise nature’ – Information relating to the forthcoming publication of a press article reporting a market rumour about an issuer of financial instruments – Unlawfulness of the disclosure of inside information – Exceptions – Regulation (EU) No 596/2014 – Article 10 – Disclosure of inside information in the normal exercise of a profession – Article 21 – Disclosure of inside information for the purpose of journalism – Freedom of the press and freedom of expression – Disclosure by a journalist, to a usual source, of information relating to the forthcoming publication of a press article. Case C-302/20.
ECLI identifier: ECLI:EU:C:2021:747
Advocate General: Kokott

16/09/2021

Title: Case C-302/20: Request for a preliminary ruling from the Cour d’appel de Paris (France) lodged on 9 July 2020 — A. — Other party: Autorité des marchés financiers

21/09/2020