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BREAKING: NYSE Withdraws SEC Proposal for Dangerous NAC Rule Change

Washington, D.C. – The New York Stock Exchange (NYSE) has withdrawn its proposal to the Securities and Exchange Commission (SEC) to amend their Listed Company Manual to adopt new standards for the listing of Natural Asset Companies (NACs).

This development comes after the Club for Growth Foundation and other organizations, including the State Financial Officers Foundation, submitted comments outlining concerns with the proposed rule change to the SEC.

“An exchange is simply intended to be a place for people and entities to buy and sell freely; and the push by the New York Stock Exchange to alter their rules in favor of Natural Asset Companies overtly violated that defining principle,” said Club for Growth Foundation President David McIntosh. “We are proud that our comment, as well as the comments submitted by other organizations such as the State Financial Officers Foundation, brought light to the grave concerns of this rule change and ultimately led to the New York Stock Exchange withdrawing their proposal to the SEC.”

 

Click here to read the full comment submitted to the SEC by the Club for Growth Foundation.

Click here to read the full notice of withdrawal of the proposed rules change by the NYSE.

Click here to read the full comment issued by the State Financial Officers Foundation, signed by 96 conservative leaders across the country, including many Club for Growth Foundation Fellows.


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