SC Explores Taskforce To Strengthen Company Secretaries’ Competency, Accountability
KUALA LUMPUR, Sept 22 (Bernama) -- The Securities Commission (SC) is exploring the establishment of a multi-stakeholder task force, involving regulators and professional bodies, to strengthen the competency and professionalism of company secretaries in Malaysian-listed companies.
SC chairman Datuk Mohammad Faiz Azmi said the proposed task force would include developing a standardised competency framework aligned with the evolving role of company secretaries.
“We are also working with Bursa Malaysia on the regulatory framework for company secretaries of listed companies to address, among others, their fit and properness as well as accountability,” he said in his keynote address at the Chartered Governance Institute (CGI) Global Governance Summit 2026 here today.
He said the move was in response to feedback received during consultations on the Malaysian Code on Corporate Governance (MCCG) 2026 to be issued this year, which highlighted the need to further strengthen the competency, capabilities and professionalism of company secretaries.
Faiz said company secretaries were increasingly expected to perform a multi-faceted role beyond ensuring legal compliance and maintaining company records, including acting as trusted advisers, facilitating effective board decision-making and providing a critical and constructive internal voice.
“There may be occasions where the most convenient course of action for a board is not necessarily the best.
“There may even be times when asking the right question matters more than having the correct answer,” he said.
On the MCCG 2026, Faiz said the revised code would focus on ensuring that corporate governance contributes to value creation rather than being treated merely as a compliance exercise.
“It is precisely through this lens that we approached revisions to the MCCG that will be issued this year,” he said.
He said governance must enable organisations to make better decisions amid uncertain and evolving circumstances, while investors and stakeholders increasingly expect boards to demonstrate how governance contributed to resilience, competitiveness and sustainable outcomes.
“When governance is treated merely as a compliance exercise, its greater purpose is lost. A company can be fully compliant and yet struggle due to poor strategy, excessive risk-taking or an inability to adapt.
“However, when governance shapes the quality of decisions, it becomes a competitive advantage,” he said.
Faiz said the forthcoming MCCG 2026 would retain the core principles of accountability, integrity, transparency, and effective oversight, while encouraging more forward-looking boards and organisations to address issues that shape long-term value creation.
He said good governance provides the foundation for better decisions, trust and resilience, particularly as companies navigate technological disruption, artificial intelligence, evolving sustainability expectations and geopolitical uncertainty.
-- BERNAMA