How important is ethics disclosure?

Some public companies are not up to speed with--or are ignoring entirely--ethics disclosures, according to a new report by professors from University of Georgia Law and Texas Tech University. Disclosing a Code of Ethics, or clarifying why a company does not have one in place, is mandated under Section 406 of Sarbanes-Oxley. The study focuses on the requirement that companies disclose when a waiver to the Code of Ethics is granted to one of the top three corporate officers. The pair's findings will be published in the Virginia Law Review in March. (Sub. Req.) Article