NYSE Withdraws Rule Republicans Warned Could Jeopardize National Security
The New York Stock Exchange Withdraws Rule That Would Have Harmed National Security
The New York Stock Exchange has made the decision to withdraw a rule that Republicans argue would have illegally enforced a radical environmentalist agenda, posing a threat to national security.
On Wednesday, the NYSE announced the withdrawal of a proposed rule to the Securities and Exchange Commission. This rule would have introduced a new listing entity known as a Natural Asset Company (NAC). The NAC would have had the authority to control both private and public lands, aiming to preserve the “intrinsic and productive value of nature” by prohibiting activities such as logging, herding, and drilling on the land.
A coalition of over two dozen Republican attorneys general and state financial officers strongly opposed this proposed rule, warning that it would be exploited to advance a liberal political agenda. Republicans also expressed concerns that foreign entities could acquire and control public lands by designating them as NACs.
Utah Republican Treasurer Marlo Oaks expressed satisfaction with the NYSE’s decision to withdraw the rule, stating, “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.”
CLICK HERE TO GET THE DAILYWIRE+ APP
The Securities and Exchange Commission was in the process of considering the approval of NACs and had set a deadline for public comments until January 18.
Derek Kreifels, the CEO of the State Financial Officers Foundation, emphasized the potential dire consequences for America if the rule had been accepted. He expressed gratitude for those who raised awareness about this attempted land grab by climate alarmists and thanked the NYSE for rectifying the situation. However, he stressed the importance of remaining vigilant in defending communities and states against future efforts that may seek to disrupt the principles that have made this country great.
What concerns were expressed by the coalition in their letter to the SEC about the impact of the proposed rule on land and resource use during times of emergency
Rns about the potential consequences for national security. They argued that granting such broad power to a single entity could compromise the country’s ability to use its land and resources strategically, particularly in times of crisis or conflict.
The withdrawal of this rule is a significant decision that has pleased Republicans who have long been critical of what they perceive as excessive environmental regulations. They argue that while protecting the environment is important, it should not come at the expense of national security or private property rights.
In a letter to the SEC, the coalition voiced their concerns, stating, “Granting this kind of authority to a single entity, without proper checks and balances, would allow for extreme and politically motivated restrictions on land and resource use, potentially inhibiting our ability to respond to critical needs in times of emergency.”
The NYSE has acknowledged the concerns raised by the coalition and has decided to withdraw the rule. In their statement, the NYSE stated, “We have carefully considered the feedback we received and have decided to withdraw the proposed rule at this time. We remain committed to ensuring that any new rules or regulations put forth by the exchange prioritize both environmental stewardship and national security.”
The withdrawal of this proposed rule is seen as a victory for Republicans and private property rights advocates who have been concerned about the potential encroachment on individual liberties and the economy. They argue that excessive regulation stifles innovation and economic growth, and that a balance must be struck between protecting the environment and allowing for responsible land and resource use.
While the withdrawal of this rule is a positive development for Republicans, it is worth noting that environmentalists and some Democrats support the idea of Natural Asset Companies and the preservation of natural lands. They argue that such entities are necessary to protect the environment and combat climate change.
The debate between Republicans and Democrats on this issue is likely to continue, and it remains to be seen whether the NYSE will revisit this proposed rule or if alternative solutions will be proposed.
In the meantime, the withdrawal of this rule represents a significant victory for Republicans and private property rights advocates who argue that national security and individual liberties must be preserved, even in the face of environmental concerns. The decision by the NYSE to withdraw the rule demonstrates a commitment to finding a balance that prioritizes both environmental stewardship and national security.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Now loading...