Beadle: We need to shine light on Natural Asset Companies

Treasurer Thomas Beadle has joined with 22 state financial officers in pushing for the SEC to reopen the comment period for a new rule that would allow Natural Asset Companies to be in existence. These new business entities not only seek to upend how valuation is determined for companies by allowing them to claim vague profits off of non-productive land, but also opens the door to allowing ownership groups to buy land in ND in a way that could potentially violate recently passed state laws.

The SEC announced the rule change on September 29 and provided for only 21 days of public comment. This public comment period is unusually brief and is insufficient, given the significance of the rule being considered.

I strongly urge the SEC to extend the comment window and allow more sunshine into the process of what these companies seek to do and how they might conflict with North Dakota law.

Coverage of the letters:

https://www.foxbusiness.com/politics/22-states-take-aim-sec-climate-regulations-creating-new-type-company