Recital 8
(8) The Commission, taking into account the report of ESMA, therefore concluded that it is indeed necessary to extend the transitional period laid down in Article 89(1) of Regulation (EU) No 648/2012 by one more year.
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Source: EUR-Lex (Cellar) · retrieved 2026-10-18 · Text as adopted (Official Journal); later amendments are not incorporated in this text.