January 1, NYSE Withdraws Rule Amid National Security Concerns

The New York Stock Exchange (NYSE) has withdrawn a controversial rule that Republicans claimed would have illegally implemented a radical environmentalist agenda and harmed national security.

On Wednesday, the NYSE announced its decision to withdraw a proposed rule submitted to the Securities and Exchange Commission (SEC) that would have created a listing entity called a Natural Asset Company (NAC). A NAC would have been empowered to control private and public lands by capturing “the intrinsic and productive value of nature” and block activities like logging, herding, and drilling from happening on the land.

The proposed rule faced opposition from a coalition of over two dozen Republican attorneys general and state financial officers who warned that the rule would be used to push a liberal political agenda. Republicans also argued that foreign entities would be able to purchase and control what happens on public lands by designating it a NAC.

Utah Republican Treasurer Marlo Oaks expressed his satisfaction with the NYSE’s decision to withdraw the rule. “The proposed creation of Natural Asset Companies is one of the greatest threats to rural communities in the history of our nation. Under the proposal, private interests, including foreign-controlled sovereign wealth funds, could use their capital to purchase or manage farmland, national and state parks, and other mineral-rich areas and stop essential economic activities like farming, grazing, and energy extraction,” he said in a statement obtained by The Daily Wire. “It is my hope this news signals an end to this horrible idea and that it does not resurface in other venues.”

The SEC was considering the proposal to approve NACs and was scheduled to take public comment until January 18.

Derek Kreifels, the CEO of the State Financial Officers Foundation, said the consequences for America could have been “dire” if the rule had been accepted. “I’m grateful for all who helped raise the alarm on this attempted land grab by climate alarmists, and thankful for today’s corrective from the NYSE, but we must continue to be vigilant in defending our communities and states from future efforts that would seek to upend what has made this country great in pursuit of radical political agendas,” he said.

Why It Matters (op-ed)

The NYSE’s withdrawal of the proposed rule to create Natural Asset Companies (NACs) is a victory for common sense and national security. This rule would have allowed radical environmentalists to control our lands and resources, putting our economy and way of life at risk.

Foreign entities could have exploited this rule to manipulate our resources, compromising our national security. With the rule’s withdrawal, we can continue to utilize our lands for essential economic activities like farming and energy extraction, supporting our rural communities and maintaining our national sovereignty.

The fight against radical political agendas continues, but for now, we can celebrate this win for America.

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