Dec. 26, 2023
Dear Commissioners: I very recently became aware of the Commission’s initiative with regard to Natural Asset Companies (“NACs”). Although my research on NACs is quite limited at this point, I believe the concerns, especially those expressed by Dr. James Lindsay on X, are in need of further investigation and discussion, well beyond those with nexis to the SEC’s regulation and oversight. I am legitimately concerned that potential effects of this initiative will have adverse effects on our economy and society as a whole and should be subject to far more public disclosure and discussion. Accordingly, I believe it is necessary for the Commission to postpone the passage of this initiative until a broader contingent of our society has the opportunity to understand and evaluate whether this clearly is in our nation’s best interests. I am an investor and a retired CPA, educator, financial statement auditor and regulator (former PCAOB Chief Auditor). Sincerely, Thomas J. Ray