Subject: File No. SR-NYSE-2023-09
From: Robert and Sylvia Keller

We are writing to oppose creating and listing a new type of company called a Natural Asset Company (NAC) on the New York Stock Exchange (NYSE). After much review, we believe that the existing laws of the United States and listings of companies in public markets are sufficient to allow land acquisition and ownership without creating a new "class" of company for investors. We’re extremely concerned that Russian, Chinese, or Saudi sovereign wealth funds see particular value in locking up U.S. natural resources for their own self-interest. In addition to the economic harm NACs would cause, there are national security implications as well. Neither the Commodities Board nor the SEC have the right to create ownership or derivative value of the United States natural assets, be they geologic or otherwise intrinsic to the land and people of which the USA consists. SR-NYSE-2023-09 is to be thoroughly rejected lest the entirety of the USA becomes collateral owned eventually by those who wish us harm. This country was founded by people getting away from a monarchy which owned everything - let's not act as if the CB and SEC now stand in for monarchy. Also, under your proposed rule, private interests, including foreign-owned 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 contrary to the best interests of U.S. citizens and governmental organizations. This proposed rule could lead to the concentration of ownership of natural resources in the hands of a few large corporations. This could result in the exclusion of local communities from decision-making processes that affect their livelihoods. In light of these concerns, we urge the SEC to reject the proposed rule and to end the drive by wealthy organizations to form Natural Asset Companies. Their creation is clearly not in the America's best interest. Thank you for your attention to this matter. We hope that you will take our concerns into account when making your decision. Thank you.