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Jordan A. Thomas says the cap of the OSC's proposed whistleblower program is too low
Jordan Thomas, a former SEC litigator who now represents U.S. whistleblowers with Labaton Sucharow LLP in New York, argued that establishing a floor for rewards is essential to provide potential whistleblowers with greater certainty about the program. He also agreed that the proposed $1.5 million is too low and that a dollar cap isn't necessary given that the possible rewards would be limited to 15% of sanctions anyway.
New York