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Threatened
April 12
Bursa, THREATENED
Bursa, an independent financial weekly known for its groundbreaking coverage of the black market and the emerging Romanian securities market, was threatened with legal action by the National Securities Council (CNVM). The CNVM issued a statement declaring that the "trading [of] shares listed or unlisted on the Bucharest Stock Exchange by unauthorized persons through ads published in the newspaper Bursa could be defined as a violation of Law No. 52/1994, Art. 114." This law forbids offering securities without authorization and is punishable by a fine or a prison term of three months to two years. In November 1995, Bursa published an article critical of the CNVM, leading some observers to conclude that the threat of legal action against the paper was motivated by a desire to suppress such reporting. CPJ wrote a letter to President Ion Iliescu urging him to ensure that the CNVM and other state authorities refrain from attempting to censor or curtail legitimate publishing activity. CPJ pointed out that threats against news outlets covering free markets, whether in news stories or in advertising, signal a clear intention to suppress the independent media. After receiving the letter, a presidential aide visited Bursa and--improbably--asked the editors to help draft Iliescu's reply to CPJ. A second presidential counselor then visited, and legislation was drafted to remove the vagueness in the law that led to the original charges, which have since been suspended.
For more information contact europeweb@cpj.org