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Opinion
Chris Bryant

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.

They want to regulate us.

Photographer: DBenitostock/Moment RF

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.