SEC. 806. PROTECTION FOR EMPLOYEES OF PUBLICLY TRADED COMPANIES WHO PROVIDE EVIDENCE OF FRAUD.
(a) IN GENERAL.—Chapter 73 of title 18, United States Code,
is amended by inserting after section 1514 the following:
‘‘ § 1514A. Civil action to protect against retaliation in fraud
‘‘ (a) WHISTLEBLOWER PROTECTION FOR EMPLOYEES OF PUBLICLY TRADED COMPANIES .—No company with a class of securities registered under section 12 of the Securities Exchange Act of 1934(15 U.S.C. 78l), or that is required to file reports under section15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78o(d)),……………………………….
“ For those who argue that employees owe strict loyalty to the company , Whistleblowing seems to be an act of extreme disloyalty. But loyalty cannot imply that we should not report the unethical conducts of others ……”
Conflict of Laws: Whistle-blowing Hotlines Under Fire in Europe ……. a French court issued an order prohibiting McDonald’s in France from continuing with their system on data protection grounds. ( Sarbanes Oxley and European data protection laws)