, Columnist
The SEC Is Sounding Very European About Unicorns
America is far behind on financial reporting by private businesses. It could learn a lot from Britain in particular.
They want to regulate us.
Photographer: DBenitostock/Moment RFThis article is for subscribers only.
The U.S. Securities and Exchange Commission is considering forcing large private companies to routinely disclose more financial information to the public.
To some, this may sound like a shocking imposition on private enterprise. But it’s really not if you consider how such financial reporting works elsewhere. Europe — and especially Britain — shows there’s an alternative to the extraordinary opacity of America’s private markets.