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 Economic and Social Committee [Opinion of 20 October 2021 (not yet published in the Official Journal).], Acting in accordance with the ordinary legislative procedure [Position of the European Parliament of 23 November 2021 (not yet published in the Official Journal) and decision of the Council of 9 December 2021.],
Whereas:
(1) Article 5 of Regulation (EU) No 1286/2014 of the European Parliament and of the Council [Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (OJ L 352, 9.12.2014, p. 1).] requ
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