(September 7 – 15:35 ET) – It may be small comfort for panicky investors, but Wall
Street is proclaiming itself ready for Y2K.
The President’s Council on Year 2000 Conversion, the Securities and Exchange Commission, the National Association of Securities Dealers, the New York Stock Exchange, the Investment Company Institute, and the Securities Industry Association issued a joint statement today highlighting their Y2K preparations. The heads of each of these bodies pledge that their systems are ready to go and that the securities industry should be able to digest Y2K without incident.
John A. Koskinen, chair of the President’s Council on Year 2000 Conversion, says, “The securities industry has been a leader in the United States in preparing for the Year 2000 date change,” and adds, the industry is “well-positioned to continue to provide investors with reliable service into the new millennium.”
The groups have also jointly developed a “Year 2000 Investor Kit.” It advises investors to: keep good records, stay informed about compliance at financial service providers and public issuers, invest for the long term, dn’t worry about getting your hands on actual stock certificates and ensure your own compliance.
-IE Staff
The kit is available at:
www.nasdr.com