Generally, whistle blowing is a legal term used for an act where an employee reports to the proper authorities the wrongful, illegal or fraudulent acts perpetrated by his or her employer.
In publicly traded companies, if you are an employee at a brokerage firm or their contractor, subcontractor or agent and you have reason to believe that your employer is committing mail fraud, bank fraud, wire fraud, securities fraud or violating any SEC rules and regulations or federal laws relating to fraud against shareholders, you must inform the proper authorities of these illegal acts at once.
If you are ever prosecuted, assisted in the prosecution or in any manner help in the proceedings under one of the regulations or laws, your employer cannot discharge or discriminate against you for doing a noble thing.
If in case you are discharged or discriminated against or retaliated against by your employer in any manner that puts your work in jeopardy, you are entitled to claim damages against your employer. The law prohibits whistle blowers like you from being retaliated against for bringing dishonest employers to justice.
Some of the retaliatory acts that may be committed against you by your employer for whistle blowing are discharge, demotion, suspension, threats, harassment, failure to hire or rehire, blacklisting and disciplinary action among others.
If you have been retaliated against for helping prosecute the frauds committed by your employer, you should protect your rights by filing whistle blowing claims against your employer.
Rest assured that if you whistle blow on the side of the law, the only wind you are blowing are the winds of justice.