House Republicans open probe into Biden admin for opening public lands to foreign ownershipHouse Republicans on the Natural Resources Committee are probing the Biden administration over a proposal to open public lands to private ownership, a policy critics argue present an energy and national security risk.
Republican lawmakers, led by Natural Resources Committee Chairman Bruce Westerman, R-Ark., informed the Securities and Exchange Commission that it had opened an investigation into the agency's controversial proposed rule change allowing for a new type of public company, so-called Natural Asset Companies (NACs), to be traded on the New York Stock Exchange (NYSE).
NACs are a type of company that is chartered to "protect, restore and grow the natural assets under their management to foster healthy ecosystems," according to the Intrinsic Exchange Group, which collaborated with the NYSE to develop the new corporate taxonomy. If finalized, the rule would allow NACs to be traded publicly.
"The Committee is deeply concerned with the potential impact NACs may have on the management of federal lands, effective conservation of wildlife habitat, and responsible development of natural resources," the House Republicans wrote in their letter, which was addressed to SEC Chairman Gary Gensler and Haoxiang Zhu, the director of the SEC's Division of Trading and Markets...............
https://www.foxnews.com/politics/house-republicans-open-probe-biden-admin-opening-public-lands-foreign-ownership
