Beadle: The SEC must reject NAC rules.

In December Treasurer Beadle joined with 22 other state officials to successfully push the SEC to reopen the comment period that had been rushed in the cover of darkness to allow the trading on public markets for Natural Asset Companies. These companies were speculative in nature and have been ill-defined in their economic value.

Treasurer Beadle co-authored a letter alongside 25 conservative financial officers from across the country to formally ask the SEC to reject the rules that are being proposed. The concerns from the rushed process last year remain the same.

“I am unwilling to commit our taxpayers retirement dollars to go into investment vehicles that seek to create value from arbitrary methods that try to take value from public goods (like air), by trying to make it a private commodity to be traded at the expense of others.” Beadle said. “While we can make sure that our investment managers aren’t gambling on these companies, the SEC should thing long and hard before opening these up to the public where anyone with a Robinhood or eTrade account can roll the dice on these companies.”

In addition, Treasurer Beadle expressed frustration that this could be a misguided attempt to lock up valuable farm and ranch land to make it prohibitive for these to be utilized in the future, and impossible for our energy industry to access the minerals underneath.

A copy of the letter can be found here:

https://sfof.com/wp-content/uploads/2024/01/NAC-Financial-Officer-Comment-Letter-January-2024.pdf