Your CoSec
Continuous Disclosure - don't get it wrong!
"little understanding or regard for his legal obligations as a director"
ASIC and courts come down hard on Continuous Disclosure breaches:
https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-029mr-federal-court-sanctions-getswift-with-record-continuous-disclosure-penalty/
Continuous Disclosure requires both a sophisticated understanding and a sophisticated conscience. The Board is as strong as its weakest link and the Company Secretary needs to be both across and involved in all events to ensure that the Directors are well-supported and informed to avoid missteps that can have dire consequences for Companies and Directors alike.
What does a Cosec do?
The expectations of the Company Secretary are ever-expanding. Formerly the 'Chief Administrative Officer' then the 'Chief Governance Officer' and most recently described by the Chairman of ASIC as the
"Conscience of the Corporation".
It is critical for the functioning and protection of shareholders, directors and management that the company retain the best and broadest experience that they can in their Company Secretary to optimise decision-making and communications.
For me, the Company Secretary role is a window through which I can provide all of the board, executive and life experiences, contacts and learnings that I have to support the directors and management in seeking to make the most of every opportunity and avoid the pitfalls.