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SERVICE, TRAINING, EDUCATION BEST WAYS TO EARN PUBLIC'S TRUST, CONFIDENCE, LACKRITZ SAYS; SIA PRESIDENT APPLAUDS RECOMMENDATIONS

 NEW YORK, Oct. 1 /PRNewswire/ -- The best way for the securities industry to win the public's trust is to adopt the winning game plan of service first, effective training and education, Marc E. Lackritz, Securities Industry Association president, said Friday in remarks prepared for delivery at the association's sales and marketing conference here.
 Mr. Lackritz added, "It is such a critical issue because without the public's trust and confidence, the markets, and our business, would surely decline.
 Outlining the three approaches to develop and maintain trust and confidence, Mr. Lackritz said, "Management that implements high internal standards with a strong code of ethics and behavior and rewards individuals who adhere to those principles creates the value of 'service first.'
 "Customers must know we are always working in their best interest and that our main goal is to serve them, not ourselves," Mr. Lackritz told conference attendees.
 Lackritz Applauds Continuing Education Recommendations
 Turning to the issue of training, Mr. Lackritz applauded the Securities Industry Task Force on Continuing Education's recent report calling for mandatory continuing education in the securities industry."
 The task force recommended the industry and the regulators jointly develop educational standards, with the responsibility for their administration resting primarily with the industry.
 Mr. Lackritz emphasized, "We should all embrace this effort and urge the individual SROs to adopt the recommendations and implement the program before the end of this year."
 Lastly, Mr. Lackritz noted that the better educated the American public is with regard to investing, the more the securities industry representatives will benefit as professionals, and conversely, the better educated representatives are as professionals, the more the public will benefit as investors.
 "We must reinforce the message that the securities industry has historically been a critical source of capital for U.S. business and consumers in need of funding. In performing that role, today, more than ever, we are part of the solution to the nation's economic problems," Mr. Lackritz said.
 -0- 10/01/93
 /CONTACT: Art Samansky or Karen San Antonio of Securities Industry Association, 212-608-1500/


CO: Securities Industry Association ST: New York IN: FIN SU:

TW-LG -- NY021 -- 7681 10/01/93 09:56 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
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