Monday, Aug 17, 2009
BBC, I'm sorry I ever doubted you.
Editorial Guidelines: Editorial Guidelines for Financial Journalists
From the top of page 2:
"Transparency is the key. In order to ensure that the public cannot doubt the integrity of our financial journalism, the requirements for disclosure are greater for financial journalists than for other programme makers. These additional requirements for disclosure apply to all financial journalists including presenters, reporters and producers."
It's a shame that the links don't work.
Posted by nomad @ 07:07 PM (509 views) Add Comment
5 Comments
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1. paul said...
But residential property investments do not fall under 'Commercial, Business and Financial Interests'.
Therefore, it is perfectly legal under the Financial Service Act 1988 for a journalist to talk all day about how the property market is about to take off 'very soon' and not disclose any details of the fact that they might own a portfolio of 30 properties. Contrast this with investments such as company shares and doing the same would land you a spell behind bars.
Typical BBC lip-service to the rules of journalistic integrity.
2. dead spider said...
"It is vital that no BBC financial journalist ever calls their integrity into question by appearing to promote any financial product or investment,"
Have they at no time stated that residential property was an "Investment" ??
3. inbreda said...
I think krusty has.
About 2 hundred and fifty times.
4. who stole my pension? said...
First the BBC need to get the basics rights. I have lost count of the number of times the BBC has confused millions with billions and finally trillions!!
Anyway I thought, according to the BBC, we were in a new world order. Debt is cool etc......
5. paul said...
Okay, the issue here is that the BBC's "Financial Journalism Guidelines" are like a company's "Sexual Harassement Guidelines".
They might thoroughly responsible and integral on paper, but their existence or non-existence don't change a thing. There are quite a few financial journalists here in the UK who have seen the inside of prison cells because they've ramped and dumped shares. Nothing to do with guidelines, much more to do with the Financial Services Act 2000.
Like the sexual harassement legislation, it can also be subverted by not classifying property as an investment.
Now if the BBC were to start classifying residential property as investment under these "Financial Journalism Guidelines", then I'd be prepared to take it seriously.