Jan. 11, 2024
I am highly opposed to the proposed rule as it represents a direct threat to the sovereignty and control of Federal lands in the U.S. The creation of publicly traded Natural Asset Companies will allow control of water/mineral/air and other resource rights by potentially foreign entities, none of which will have the best interest of the US public in mind. Most egregious is the potential of foreign investors to own state and federal properties, including national parks as well as control the mineral/energy rights to such properties. The proposed rule lacks specificity as to ownership and disclosure of such and also lacks a clear articulation of the authority by which SEC can claim authority over federal land decisions. This seems like a power-grab of the most obvious kind and should not be allowed. SEC does not have authority for such maneuvering and decision-making and I would urge the SEC to withdraw the proposed rule on the basis that it lacks authority to propose such a rule and lacks sufficient regulatory oversight and disclosure. Shame on SEC and shame on the government entities that support this dangerous proposed rule.