Companies enhance ethics policies.

• Position: Ohio

Many of Ohio's largest companies are enacting more specific ethics policies in response to Section 406 of the Sarbanes-Oxley Act and new NASDAQ and NYSE requirements, The Cleveland Plain Dealer reported.

The two major stock exchanges have recently passed a rule requiring adoption of a conduct policy for all employees of a listed company. The deadline for compliance for NASDAQ listed companies was May 4, 2004; the NYSE's is Oct. 31, 2004, or earlier for certain exchange members. This is in addition to the ethics requirements of Section 406 in the Sarbanes-Oxley Act, which specifies only top officers.

To help meet the new requirement, many companies are using a toll-free hot line for anonymous tips and guidance on potential...