> Private markets don't have these regulations because the assumption is that past financial success is indicative of financial sophistication. It doesn't preve

> Private markets don't have these regulations because the assumption is that past financial success is indicative of financial sophistication. It doesn't prevent fraud, but at least it helps reduce the likelihood of success. I don't know how any of this works but my kneejerk reaction is Maybe private markets should have these regulations as well? If a company can't follow these regulations maybe they have no business raising cash in the first place.