Breaking News: NYSE Withdraws Proposed Rule Change Regarding Carbon Credit “Natural Asset Companies”
By Sarah Clendenon • January 17, 2024In a surprising development today, the New York Stock Exchange (NYSE) has withdrawn its proposed rule change previously submitted to the Securities and Exchange Commission (SEC) to allow “Natural Asset Companies” to be traded in the U.S. market.
Idaho Dispatch explained in this article that Natural Asset Companies (NACs) were defined by the NYSE to be,
“Corporations that hold the rights to the ecological performance of a defined area and have the authority to manage the areas for conservation, restoration, or sustainable management.”
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Also mentioned in the previous Dispatch article was the strong opposition to NACs by Marlo Oaks, the Treasurer for the state of Utah. His background is explained in his bio:
“Marlo Oaks was appointed Utah’s 26th State Treasurer in June 2021. As the state’s chief investment and chief banking officer Marlo is responsible for debt, cash, and investments, including the $30 billion Public Treasurer’s Investment Fund. He also administers Utah’s Unclaimed Property Division. Marlo spent 17 years overseeing multi-billion-dollar investment portfolios. He is one of only two state treasurers with institutional investment experience. Marlo completed a bachelor’s degree in economics from BYU, an MBA from UCLA Anderson, and holds the CFA and CAIA designations.”
A notification published today by Sherry Haywood, the Assistant Secretary of the SEC, reports:
withdrawal of proposed NAC rule“On September 27, 2023, New York Stock Exchange LLC…filed with the Securities and Exchange Commission…a proposed rule change to amend the NYSE Listed Company Manual to adopt a new listing standard for the listing of Natural Asset Companies (“NAC”).
On January 17, 2024, the Exchange withdrew the proposed rule change…”
David with the Idaho Dispatch had the exclusive opportunity to speak to Marlo Oaks today, upon learning of the withdrawal of the proposed rule. Oaks explains why this an important step, but why in his opinion this continues to be an ongoing concern.
Oaks is currently in Idaho and is speaking tonight, Wednesday, January 17, in Idaho Falls at the Stand Up for Idaho meeting at the Snake River Event Center (Shilo Inn), 780 Lindsay Blvd., Idaho Falls. Event begins at 6:30pm (Doors open at 5:30pm).
Feature photo courtesy of Getty Images
Tags: Carbon Credits, Idaho, Marlo Oaks, NAC, Natural Asset Companies, New York Stock Exchange, NYSE, SEC, Securities and Exchange Commission, Stand Up for Idaho, Treasurer, Utah
They better think about this long and hard before they think Idahoans will turn over our lands to the likes of a CCP or Sierra Club.
That’s why they’re trying to do it through these back doors. You won’t even know until they shut down access altogether.
Educated Idiots in glass towers trying to make worldly decisions.
God and his People, Animals and Plant Life are the Stewarts of our land, not these fools.
Keep your eyes open wide. This will reemerge in the future.
Bravo to Utah Secretary of State Marlo Oaks and idaho Senators Risch and Crapo for stopping this action to further limit the public access and ownership of public land. But remain alert to this sneaky, undercover action. The SEC stopped it for now but the seekers of the 2030 agenda will never change their nature.
And may I add, beware to all farmers and landowners, the offer of tax breaks for enlisting your property into a conservancy isone way they can do this attack against private property rights.
I wrote a comment to SEC on this that was NOT publicly displayed… I attached it to another similarly proposed comment so you all can read it.
https://www.regulations.gov/comment/APHIS-2023-0022-4904