The New York Stock Exchange has withdrawn from the Securities and Exchange Commission a proposal to create a new tradeable asset class called natural asset companies, or NACs, the commission said.
The asset class was to be based on sustainable enterprises that hold the rights to ecosystem services, such as carbon sequestration, produced by natural, working, or hybrid lands. The NYSE, which is owned by Intercontinental Exchange Inc, in 2023 had proposed to the SEC a rule change to adopt the new listing standard.
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FIRST ON FOX: House Republican leaders announced they are opening an investigation into the Biden administration over its attempt to open public lands to private ownership.