The Evolving Role of the Company Secretary
The role of the Company Secretary has been brought into sharper focus following the removal of BP’s Chair and widely reported tensions at board level. This has reinforced the continued evolution of the role from administrative support to strategic adviser, particularly in high-pressure governance situations. While technology and AI are enhancing efficiency across company secretarial teams, they do not replace the need for strong judgement, influence and independent oversight at board level.
Boards are placing increased emphasis on:
- The Company Secretary as an independent governance voice
- Influence and diplomacy in navigating board dynamics
- Clear delineation of responsibilities between governance roles
- Maintaining impartiality amid heightened scrutiny
Company Secretaries should ensure there is clarity around the boundaries between their role and that of the Senior Independent Director (SID). While the SID provides an independent channel for shareholder concerns and holds the Chair to account, the Company Secretary remains the custodian of governance integrity within the boardroom. Building a strong and trusted relationship with the SID is increasingly important in supporting effective and balanced board oversight.
Engagement, not just attendance: how AGM and shareholder expectations are evolving
AGMs are increasingly seen as a key moment of engagement between boards and shareholders, not just a procedural requirement. Voting still matters, but expectations have clearly shifted towards transparency, accessibility and the overall quality of interaction.
Companies that are viewed positively tend to respond openly and directly to shareholder questions, even when addressing challenging topics. This helps create a genuine sense of dialogue and demonstrates a commitment to transparency. By contrast, where responses appear overly scripted or limited, shareholders may feel less engaged and the process can seem less open.
Format plays a part too. Well run hybrid and virtual format meetings make it easy for a wide range of shareholders to take part, while poorly designed ones can create barriers even if participation is technically possible.
Overall, the most effective companies treat the AGM as part of an ongoing conversation. They prepare for likely areas of challenge, encourage open discussion, and use shareholder feedback to shape future decisions. Done well, the AGM becomes a chance to build credibility, not just tick a box.
For more information please visit our AGM Hub: AGM Management & Advisory Services for UK Companies | Equiniti
Looking ahead: the next phase of ECCTA
The Economic Crime and Corporate Transparency Act 2023 (“ECCTA”) aims to strengthen corporate transparency and accountability, tackle economic crime and enhance the integrity of Companies House. It remains a key focus for all companies as its phased implementation continues, with several reforms progressing, including but not limited to:
- Identity verification completion by November 2026 - Existing directors and People with Significant Control (PSCs) are required to verify their identities between November 2025 and November 2026, with deadlines aligned to each company’s confirmation statement date. Following this period, identity verification will become mandatory for anyone filing at Companies House, and filings will not be accepted from unverified presenters and unregistered authorised corporate service providers.
- Shareholder transparency – ECCTA is expected to introduce enhanced requirements to address inconsistent shareholder data. Companies will be required to maintain more complete records, including full names of shareholders as well as possible requirements for private companies to submit a one-off shareholder list (with additional disclosures for significant holdings in traded companies). Whilst there is currently no confirmed implementation timetable, further detail is expected following the March 2026 consultation, and companies should begin considering how their shareholder data processes may need to evolve in preparation.
As ECCTA continues to reshape the UK’s corporate reporting landscape, companies will need to remain proactive and ensure their governance and data processes develop in line with increasing transparency expectations.
For help navigating ECCTA, please see our EQ ECCTA Hub
The UK Cyber Resilience Pledge
The UK Government's Cyber Resilience Pledge, published in April 2026, signals the growing importance of cyber security as a board-level governance issue rather than solely an operational or IT concern. While the pledge is voluntary, it reflects increasing expectations that boards actively oversee cyber resilience and understand the risks facing their organisations.
Organisations signing the pledge commit to implementing the Cyber Governance Code of Practice, ensuring board-level cyber training, and taking practical steps to strengthen cyber resilience. The pledge also encourages greater transparency through public reporting on progress and increased focus on cyber risks across supply chains.
For company secretaries and governance professionals, the pledge provides a useful indication of the direction of travel. Cyber risk continues to move higher up the governance agenda, and boards that strengthen oversight now will be better positioned to meet future stakeholder and regulatory expectations.
For further information, you can access the Gov.uk Cyber Resilience Pledge Information Pack here: Government Cyber Resilience Pledge Information Pack
London Stock Exchange Consults on AIM Rules – AIM Notice 62
The London Stock Exchange has launched a consultation on proposed changes to the AIM Rules, aimed at making the market more attractive to growth companies while reducing unnecessary regulatory burden. The consultation forms part of a broader effort to support founder-led, innovative and international businesses seeking access to public markets.
Key proposals include simplifying the admission process, creating new routes to AIM for companies already listed elsewhere, introducing a voluntary Capital Access Window to facilitate fundraising, and providing greater flexibility in relation to acquisitions and financial reporting requirements. The proposals also place increased reliance on the professional judgement of nominated advisers and there is a parallel consultation updating the AIM Rules for Nominated Advisers to reflect this enhanced role.
If implemented, the reforms would represent one of the most significant updates to the AIM framework in recent years, reflecting a shift towards a more principles-based and commercially focused approach to regulation. The consultation closed on 2 July 2026, with final rules expected later this year.
The full consultation is available here: AIM Notice 62 - Consultation on changes to the AIM Rules for Companies