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New law benefits Kentucky investors

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FRANKFORT, Ky. — Gov. Andy Beshear authorized right into legislation just recently Us senate Expense (SB) 298, regulations that needs financial investment advisors signed up in Kentucky to create and also carry out composed company connection strategies and also cybersecurity strategies. It additionally develops brand-new proceeding education and learning demands for financial investment consultant agents.

“In today’s globe, all services must get ready for feasible disturbances, whether from a pandemic, serious weather condition occasions or cybersecurity occurrences,” claimed Gov. Andy Beshear. “We require to advertise finest techniques when it concerns companies that offer financial investment suggestions and also handle our individuals’s hard-earned cash. These sensible demands will certainly aid make certain financial investment advisors placed customers’ passions initially and also reduce possible injury from solution disturbances.”

Kentucky has greater than 160 state-registered financial investment advisors, which handle greater than $3 billion in properties. Additionally, roughly 6,300 people are signed up as financial investment consultant agents (IARs) in Kentucky.

Under the brand-new legislation, IARs have to finish yearly proceeding education and learning demands in 2 locations: Values and also Expert Obligation, and also Products and also Practices. Many various other monetary experts are currently needed to take part in proceeding education and learning.

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“The monetary solution sector modifications quickly, and also financial investment consultant agents have to remain educated of patterns, legal modifications and also sector criteria,” claimed Marni Rock Gibson, Stocks Department Supervisor at the Division of Financial Institutions (DFI). “The proceeding education and learning program will certainly advertise conformity with policies, while additionally assisting IARs much better offer their customers.”

Kentucky is the 6th state to take on a proceeding education and learning need for IARs, and also numerous various other states are anticipated to pass comparable regulations in 2022. The proceeding education and learning, company connection and also cybersecurity stipulations in SB 298 are all based upon version regulations from the North American Stocks Administrators Organization (NASAA).

DFI will certainly hold City center occasions in the coming months to attend to inquiries and also offer financial investment advisors and also financial investment consultant agents with details regarding the brand-new legislation’s demands. SB 298 enters into result on Jan. 1, 2023.

Go Here for even more Kentucky company information.



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No. 2 Kentucky sets school record with 21st SEC win

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No. 2 Kentucky sets school record with 21st SEC win


LEXINGTON, Ky. – Ryan Waldschmidt could not be contained and neither could No. 2 Kentucky as it defeated Vanderbilt 10-5 at Kentucky Proud Park on Thursday as it pulled ever so close to the second Southeastern Conference regular season championship in school history. In the meantime, UK’s 21st victory in league play set a new high-water mark in school history.

The Cats (38-11, 21-7) saw their magic number dwindle to one, meaning one victory in their final two games seals at least a share of the title.

Vanderbilt made the 4,384 fans hold their breath with a home run on the first pitch of the game but UK struck for three runs of its own in the first in a quintessential Wildcats inning that featured extra base hit, bunts, sacrifices, walks and the offensive pressure it has become known for in recent years.

Two innings later, Waldschmidt belted a two-out, three-run homer off the TV tower beyond centerfield to blow the game open and chase the Commodores’ starter. Nick Lopez later added a homer and birthday boy Mitchell Daly collected his 200th career collegiate hit as part of an active evening on both sides of the ball.

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On Friday, UK will honor its graduates as well as go through Senior Night ceremonies before the game.



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How is extreme weather impacting home insurance rates in Kentucky?

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How is extreme weather impacting home insurance rates in Kentucky?


LEXINGTON, Ky. (WKYT)—Kentucky has had its share of bad weather over the last several years, which is partially why homeowners insurance rates have been on the rise.

“It first started with COVID, and you know, the cost of supplies and demand on labor rates and that sort of thing, and then right after COVID, we started seeing these really bad wind and hail storms coming through Kentucky,” said Renee Jackson, a Lexington insurance agency owner.

Due to both the pandemic and bad weather, there is a new normal when it comes to insurance rates.

“We used to look at rates for clients being a little abnormal if they were 10 percent or higher of the increase renewal. Now, we are looking at if it’s 18 to 20 percent is really when we start looking at shopping our client’s rates and that sort of thing,” said Jackson.

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Jackson says one way to prevent major rate increases is to file claims only on significant damage.

“A windstorm came through, and I have to replace my roof. A roof replacement is $20,000. That’s when you want to file a claim. Keep the small things to yourself and let the insurance company deal with the large things because when you file the small things, you’re going to see even higher insurance increases on your premium and you don’t want that to happen,” Jackson said.

Jackson thinks that hiking insurance rates should cool, but the weather will play a big role in that fate.

“I think the insurance companies have a good handle of what’s going on. As long as we don’t have any more storms come through Kentucky in the next year, I think you’re going to see your rates leveling off. You’re not going to see the increases like you did before,” Jackson said.

According to a study from Deloitte, Kentucky is among 21 US states at high risk of climate impacts.

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PGA Championship begins with sunshine and soft turf at Valhalla in Kentucky

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PGA Championship begins with sunshine and soft turf at Valhalla in Kentucky


LOUISVILLE, Ky. (AP) — A PGA Championship filled with various layers of intrigue began Thursday after a 10-minute delay for fog, which quickly gave way to sunshine and a morning that figures to set the tone for Rory McIlroy, Tiger Woods and Jordan Spieth.

Weather has been an issue all week, with rain at times closing Valhalla Golf Club for brief periods during two days of practice.

McIlroy returns to the site of his last major 10 years ago that also was marked by weather when a two-hour rain delay on Sunday caused him to play into the group ahead so that he could finish before dark.

He starts this major just two days after news broke that he was getting divorced from his wife of seven years. McIlroy cut short his interview to 10 minutes with a request that all questions be related only to golf. Asked about his energy and how he was feeling, McIlroy said curtly, “I’m ready to play this week.”

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Woods also is a past champion at Valhalla from 24 years ago, when he was younger and before back surgeries, knee surgeries and a 2021 car crash. He is playing for only the third time this year.

Spieth is playing alongside defending champion Brooks Koepka. At stake for Spieth, again, is a chance to become the sixth player to win the career Grand Slam if he can hoist the Wanamaker Trophy at the end of the week.

Koepka only has two legs of the Grand Slam, but his major count already is at five.

“I’m just looking forward to a major championship,” Koepka said. “That kind of gets my excitement going.”

Scottie Scheffler, the No. 1 player in the world, is among the few stars playing in the afternoon on a course that is soft and susceptible to low scoring. Scheffler hasn’t competed in three weeks, staying home in Dallas for the impending birth of his first child. A son they named Bennett was born May 8.

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He still comes into Valhalla with a load of momentum — four wins in his last five starts, one of them a second Masters green jacket, the exception a runner-up finish in Houston.

Being at home gave him time to reflect, and it was all good.

“I married my high school sweetheart and I always wanted to play professional golf, and now I’m here,” Scheffler said. “I was sitting there with a newborn in my arms and the green jacket in the closet. It was a pretty special time.

“The competitiveness in me doesn’t let me reflect too much. And I was trying to do my best to get ready to play this week.”

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AP golf: https://apnews.com/hub/golf

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