05/04/2001 (Agence Europe) - On Tuesday, the European Parliament took a stance on two Commission communications on the updating of the directive on investment services, mainly in order to promote cross-border investment. It agrees with its two rapporteurs, Ms Kauppi and Mr Katiforis. In its report on the rules of conduct to be applied, Piia Kauppi (EPP-ED, Finland) considers that the country of origin should be that of the company that provides the service and not the beneficiary country. The rapporteur hopes different rules will be applied for wholesalers and retailers. Giorgios Katiforis (Greek Socialist), rapporteur on the modernisation of investment services, also recommends this distinction, and insists on measures allowing an end to be put to over-laxist measures towards non-financial firms that may "dabble on the stock exchange" while enjoying the high rate of protection reserved to small individual investors.