The Cumberland River Challenge Canoe & Kayak Race is an annual event, hosted by Union College, U- Canoe and Barbourville Tourism. The race consists of 15 miles of river, ranging from calm water to beginner-level rapids. The race starts on the Knox County line bordering Bell County and finishes in Knox County at the Thompson RV Park. Annual “bragging rights” and awards are presented at the end of the race.In March of 2017, we joined with The Explorer Kentucky Initiative to add The Cumberland River Challenge to The Kentucky Waterman Series as a points race for it’s competitors. The inaugural season will consist of 12 races on Kentucky waterways from all across the state. Participation is required in 4 races in order to receive a ranking in the series. It will be a great way to introduce our competitors to other paddlers from around the state and share the beauty of our area to individuals who have never viewed the Cumberland.After paddling or spectating along the Cumberland River take time to enjoy Barbourville.Barbourville is a town rich in history with many firsts: 1750 Visit Dr. Thomas Walker State Park and see a replica of the first cabin in Kentucky 1775 First Trails and Roads—The Wilderness Road, Warriors Path and the Daniel Boone Trail known as the Boone Trace all cross in Knox County. 1800 Barbourville is the oldest town and was the largest and most progressive city south of Richmond 1861 Barbourville is the site of the first battle of the Civil War with casualties 1879 Union College, the first college in the mountainsPlease make plans to attend a festival or event, visit the Civil War Interpretative Park, Knox Historical Museum, Thompson RV Park, eat some great grub at our own KCBS BBQ Competition, Barbourville Water Park, fish along the Cumberland River or canoe, Hike ‘n Bike at Sandy Bottoms or at Union College’s Turner Outdoor Center, or cruise the night away with our newest event Knox Street Thunder.
Germany’s BaFin has disagreed with the EU pension supervisor’s recommendation that it make more frequent on-site inspections of occupational pension providers to assess their compliance with the prudent person rule.The recommendation was one of 27 that the European Insurance and Occupational Pensions Authority (EIOPA) issued for national supervisors in 16 countries following a peer review of how national authorities ensured that IORPs invested their capital in the best interest of their members and beneficiaries.EIOPA said it would assess how the “national competent authorities” (NCAs) complied with the recommended actions and “continue its work to improve supervisory practices in this area at European level”.Twelve of the recommended actions were of “low” importance, nine of “medium” importance, and six of “high” importance, according to an EIOPA grading system. The recommendation addressed to BaFin about the length of its on-site inspection cycle was marked as of “high” importance.According to EIOPA, the frequency of on-site inspections related to the prudent person rule varied significantly from national supervisor to national supervisor, depending mainly on “the applicable legal framework, the pension landscape in a country and NCA resources”. BaFin’s offices in BonnHowever, the average was every three to six years and EIOPA considered that “a lack of or low frequency of on-site inspections constitutes a shortcoming in existing supervisory processes”.In Germany, BaFin conducted on-site inspections at least every seven to 12 years depending on an IORP’s “classification in the risk categorisation tool”. According to EIOPA, it should increase the cycle to conduct more inspections, again depending on the risk classification.BaFin availed itself of national authorities’ right to submit a written statement where they have “strong objections” to a recommended action or finding.In its statement, which was included in EIOPA’s report, the supervisor said it considered it appropriate to stick to its current audit cycle, as this was compensated by a range of “risk reduction mechanisms”.These included the existence of additional qualitative and quantitative rules about investment by Pensionsfonds and Pensionskassen, and a comprehensive reporting system – already in place for the latter and in the works for the former.BaFin also noted that Germany, “unlike most other EU member states”, had granted insurance claims absolute precedence over any other claim with respect to assets representing the technical provisions, rather than “just” granting them a special rank.The supervisor also emphasised that information gained from IORPs’ risk management and internal audit processes were “very important for the supervisors” and that the knowledge of IORP employees entrusted with these processes and tasks was “often the starting point for further auditing on the part of the supervisors”.Positives, too In addition to the recommended actions targeting supervisory shortcomings EIOPA identified six best practices currently being applied by five national authorities.These related to the use of thematic reviews, the use of risk scoring models, stress tests, the monitoring of costs, reporting, and financial education.The NCAs identified as implementing at least one identified best practice were the FSMA in Belgium, Covip in Italy, Luxembourg’s CSSF, the Dutch supervisor DNB, and the ASF in Portugal.EIOPA said it was of the view that “initiatives to include more qualitative elements in supervision” should be facilitated, as well as “combining qualitative and quantitative elements and to move from purely compliance-based towards a more risk-based and forward-looking approach”.The reference period of the peer review was 2014-2016 under the IORP Directive, but EIOPA said the analysis was valid following the introduction of the IORP II Directive as it did not substantially alter the prudent person rule. EIOPA’s report can be found here.
targets IN DEMAND Tony Cascarino backs Everton to sign two strikers for Carlo Ancelotti RANKED Lowton’s form has been rewarded Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ 1 LATEST LIVING THE DREAM moving on Matt Lowton has signed a new three-year contract with Burnley.The defender has established himself as the Clarets’ first-choice right back since joining from Aston Villa in 2015. targets REVEALED The biggest market value losers in 2019, including Bale and ex-Liverpool star Top nine Premier League free transfers of the decade LATEST TRANSFER NEWS Man United joined by three other clubs in race for Erling Haaland Lowton, 29, played a key role in the club’s Championship title-winning campaign in 2016 and helped them finish seventh in the Premier League last season.He said: “Ever since I walked in the door the first day I’ve enjoyed it,” Lowton added.“The lads have been fantastic – the manager and the staff have all been brilliant – and it’s gone from strength to strength every year.“Winning the Championship was one of the best days of my life and then staying up and qualifying for Europe, it’s just been building year-on-year.“The manager said towards the end of last season when we had a meeting that we would talk over the summer and hopefully sort out a new deal.“He has stuck to his word and I’m very happy to have signed for another three years.” Kevin De Bruyne ‘loves Man City and wants to keep winning’, reveals father Where every Premier League club needs to strengthen in January Cavani ‘agrees’ to join new club and will complete free transfer next summer