The Sarbanes-Oxley Act commonly prohibits publicly traded corporations from producing loans to their directors or executives. Similarly, the Urban Institute survey identified that it is uncommon for nonprofits to produce loans to board members. Fifty percent of nonprofits inside the Urban Institute study had a conflict of interest policy for board members. On the biggest organizations, 95 percent reported obtaining a policy, but only 23 percent on the smallest organizations reported obtaining one particular.
Adopting a code of ethics
SOX calls for corporations to disclose no matter if they've adopted a code of ethics for officers (and if they haven’t, they ought to clarify why). Corporations also must report no matter if they’ve amended or waived any on the provisions of their codes of ethics.
SOX calls for corporations to disclose no matter if they've adopted a code of ethics for officers (and if they haven’t, they ought to clarify why). Corporations also must report no matter if they’ve amended or waived any on the provisions of their codes of ethics.
