House Passes Placement Agent Bill

{Frankfort, Kentucky}...Lawmakers have given final approval to legislation that would make placement agents involved in financial investments for Kentucky's pension program subject to the state's ethics laws. The House voted 94-0 Thursday for final passage. Democratic Representative Mike Cherry of Princeton, chairman of the House State Government Committee, has been pushing to hold placement agents more accountable. Cherry's bill, which now goes to Governor Steve Beshear, also requires placement agents to make public reports about their income and expenses.