The Companies and Intellectual Property Commission (CIPC) recently issued Notice 25 of 2026, reminding companies of the importance of maintaining accurate and up to date director information on the Commission’s records. Accurate records form a critical part of good corporate governance and assist in preventing fraud, misrepresentation, and regulatory non-compliance.
Section 24(5) of the Companies Act, mandates that every company must maintain a detailed, up-to-date record of its directors. Companies are required to ensure that the CIPC is updated within 10 business days, regarding any changes to directors’ information. The notice highlights several instances where updates are necessary, including the appointment or resignation of directors, changes to surnames following marriage or divorce, updates to foreign directors’ passport numbers, and amendments to addresses or contact details. The CIPC has identified ongoing discrepancies in company registers, which has prompted this renewed call for compliance.
The CIPC further emphasises that these updates can be efficiently processed through its eServices platform, specifically via the director amendments and change of contact details tab. Keeping director information current ensures smoother communication with the Commission and reduces delays or complications during regulatory processes.
For financial services providers (FSPs) and other regulated entities, this reminder is particularly important as they are required to maintain accurate statutory and governance records to demonstrate operational soundness and compliance readiness. Outdated director information can create complications during licensing applications, fit and proper assessments, audits, due diligence exercises, and regulatory inspections. In some instances, discrepancies between internal company records and CIPC records may also delay banking, contracting, or onboarding processes with financial institutions and counterparties.
Accurate director records support good governance structures, which are central to regulatory compliance in the financial services environment. Maintaining up-to-date records therefore contributes not only to compliance with the Companies Act, but also to the overall effectiveness of a business’s risk management and governance framework.
FSPs should therefore review their internal compliance procedures to ensure director records are continuously monitored and updated when changes occur. Masthead encourages FSPs to treat director information updates as part of their ongoing compliance maintenance programme rather than an annual administrative exercise.