24RS HB 474

Actions

Last Action	02/06/24: to Committee on Committees (H)
Title	AN ACT relating to consumer protection in financial transactions.
Bill Documents	Introduced
Bill Request Number	1670
Sponsor	S. Sharp
Summary of Original Version	Create a new section of KRS Chapter 292 to define terms; require broker-dealers, agents, investment advisers, and investment adviser representatives to disclose, and obtain the written consent of the customer and client for, the incorporation of a socially responsible criteria or other nonfinancial objective into discretionary investment decisions to buy or sell a security or commodity, recommendations or solicitations for the purchase or sale of a security or commodity, and the selection or recommendation, or advice regarding the selection, of a third-party manager or subadviser; establish requirements for the disclosures and written consent.
Index Headings of Original Version	Securities - Socially responsible or other nonfinancial objective, disclosure Banks and Financial Institutions - Securities and commodities, socially responsible criteria or nonfinancial objective, disclosure Commerce - Securities and commodities, socially responsible criteria or nonfinancial objective, disclosure Public Protection - Securities and commodities, socially responsible criteria or nonfinancial objective, disclosure