The WLR Daily case summaries
[2022] WLR(D) 131
Court of Justice of the European Union
A v Autorité des marchés financiers (AMF)
(Case C‑302/20)
EU:C:2022:190
2021 June 22, Sept 16, 2022 March 15
President K Lenaerts,
Vice-President L Bay Larsen,
Presidents of Chambers A Arabadjiev, A Prechal, K. Jürimäe, C Lycourgos, N Jääskinen, I Ziemele, J Passer,
Judges AD Bonichot, T von Danwitz, M Safjan, F Biltgen (Rapporteur), A Kumin, N Wahl
Advocate General J Kokott
Vice-President L Bay Larsen,
Presidents of Chambers A Arabadjiev, A Prechal, K. Jürimäe, C Lycourgos, N Jääskinen, I Ziemele, J Passer,
Judges AD Bonichot, T von Danwitz, M Safjan, F Biltgen (Rapporteur), A Kumin, N Wahl
Advocate General J Kokott
Company— Insider dealing— Use of information— Journalist publishing articles relaying rumours of possible takeovers of French companies— Prior to publication journalist disclosing information of forthcoming articles to investors he regularly contacted— Investors purchasing shares in companies prior to publication of articles and subsequently selling at profit— Whether information constituting “inside information” “of a precise nature”— Whether disclosure made “for the purpose of journalism”— Whether “unlawful disclosure of inside information”—
Parliament and Council Directive 2003/6/EC, art 1
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Commission Directive 2003/124/EC, art 1
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Parliament and Council Regulation (EU) No 596/2014, arts 10, 21