Does the SEC have authority to interfere with economy's overhaul?

Just before Christmas, the Securities and Exchange Commission (SEC) announced that it would reopen public comments for a proposed rule that would completely transform the economy. The SEC proposed a rule to allow the creation of a new type of company to be listed on the New York Stock Exchange (NYSE) called “Natural Asset Companies (NAC).” This decision to reopen comments came after heavy criticism of the SEC for its unusually quick comment period for a rule that could significantly impact the economy.

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