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Version date: 30 June 2017 - onwards
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Recitals

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 114 thereof,

Having regard to the proposal from the European Commission,

After transmission of the draft legislative act to the national parliaments,

Having regard to the opinion of the European Central Bank [OJ C 195, 2.6.2016, p. 1.],

Having regard to the opinion of the European Economic and Social Committee [OJ C 177, 18.5.2016, p. 9.],

After consulting the Committee of the Regions,

Acting in accordance with the ordinary legislative procedure [Position of the European Parliament of 5 April 2017 (not yet published in the Official Journal) and decision of the Council of 16 May 2017.],

Whereas:

(1) This Regulation constitutes an essential step towards the completion of the Capital Markets Union as set out in the Communication of the Commission of 30 September 2015, entitled 'Action Plan on Building a Capital Markets Union'. The a