SEC must drive a stake through the ‘natural asset company’ scheme

By: Derek Kreifels

The Biden administration’s attempt to sneak through regulations that would fundamentally redefine business for the sake of its radical climate agenda almost worked. The Securities and Exchange Commission was a mere two weeks away from approving a new rule that would greenlight the New York Stock Exchange’s request to list a radically new class of company known as a “natural asset company,” or NAC, on its exchange. But just before the holidays, the SEC fortunately relented under pressure from state financial officers and Congress, taking the proposal off the fast track and reopening the public comment period so that interested parties, now alert to the proposal, might weigh in and provide much-needed scrutiny.