Short Takes: Securities Groups Issue Year-2000 Safety Kit

The securities industry has developed a kit to give investors information on year-2000 issues.

It advises investors to keep good records and stay informed about preparations by financial services firms.

The kit is a joint effort of the President's Council on Year 2000 Conversion, the Securities and Exchange Commission, the National Association of Securities Dealers, and the Securities Industry Association. It is available on the NASD's Web site, and printed copies will be available next month.

Ed Hipp, president of the brokerage unit at Centura Banks Inc. of Rocky Mount, N.C., said the kit would be useful even though customers have already gotten a lot of information from the bank and his brokerage.

But one compliance manager said she was not sure the kit was necessary. "I'm not hearing a lot of panic or confusion about what's going to happen," said Karen Latourette of Penn Securities Inc., a unit of Boyertown, Pa.- based National Penn Bancshares. She said Penn Securities has already informed its customers that it is ready for the date change.