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That could hurt some enforcement actions, but it would be limited to the small percentage of cases that actually go to trial, said [Jordan Thomas][prior firm][‘s] partner Jordan Thomas, who helped craft the SEC’s whistleblower program while at the commission.
“I think it affects the effectiveness, to some degree, of related enforcement actions, because it’s one less witness, but sophisticated counsel will be able to provide the info the SEC needs to build successful cases,” Thomas said.