Legal Question in Business Law in New York

Whistleblower protection Sarbannes-Oxley Law

Yes, in Dec. 2003 Congress enacted the above comprehensive anti-Enron activity law. Hidden in that law is the first protection for employees in private industry for whistleblowing, protecting against retaliation before going to the SEC. The trigger for protection is informing any supervisor or member of management. This should be fully documented. The compromise that Congress made was that you only have 90 days after the retaliation/firing to then go to the SEC. The SEC has an opportunity to investigate and then a federal lawsuit is brought providing broad protection for the fired or otherwise disciplined low or high level employee--everyone done from the CEO. Wall Street companies DO NOT want anyone to know about this tiny sub-section. 90 days is a very short amount of time. If this happens to you, you should contact an attorney experienced in this particular area, both in whistleblower protection and SEC regulation in publicly traded financial institutions, from brokerages, to banks, to boiler room rip off operations. Be aware of your rights. Don't argue, leave the premises, have your documentation already in a safe location and contact an experienced lawyer immediately.