SEC Withdraws Proposal for 'Natural Asset Companies' on NYSE

Opposition cites concerns over property rights, land management, and national security.

The Securities and Exchange Commission (SEC) has withdrawn a proposal that would have allowed 'Natural Asset Companies' (NACs) to be traded on the New York Stock Exchange (NYSE).
The proposal, which was met with significant opposition, would have permitted American lands and ecosystem services to serve as the basis for a new financial product.
Opponents of the rule raised concerns about potential problems for property rights, effective land management, economic uses of federal land, and national security.
Thirty state officials had urged the SEC to reject the proposal, citing concerns about novel accounting practices and potential national security threats.
The NYSE had partnered with the Intrinsic Exchange Group (IEG), a for-profit company backed by interests including the Rockefeller Foundation, to advance the NAC proposal.