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, 2, i'enrcprisc d'invesdssement en inforrne par eärir'les
if, despite the measures uken by the home member sute or because such measures prove inadequate or are not available in the member sute in question, the investment firm persists in violating the legal rules referred to in paragraph 2 in force in the hon member sute, the latter sute may, after informing the competent authorities of the home member sute, uke appropriate measures to prevent or to punish further irregularities and, insofar as is necessary, to prevent that investment firm from initiating further transactions within its territory.

ics enüeprises d'invesdssement onr un capitalinidal d'au moins 500 000 öcus.
investment firms shall have initial capiul of at least ecu 500 000.

4) etat membre d'oigine: pays tiers et, en dernier ressorr,, la possibilid de prendredes mesures consistant ä suspendre de nouvellesdemandes d'agrömenr ou ä limiter les nouveaux agrö- rnen$; a) lorsque i'entreprise d'invesdssement est uncpersonne physique, i'etat membre oü ccttcpersonne a le siöge de son activit€principde; principde; considörant que le fonctionnemenr harmonieux dumarche int6rieur des services d'investissement nöcessirera,au-delä des rögles juridiques, une coop6ration 6troire er
whereas the smooth operation of the internal market in investment services will require not only legal rules but also close and regular cooperation between the