The group responsible for reviewing the Federal Government’s proposals on the effectiveness of the corporate disclosure framework – CLERP 9 – now has eight new members, including Small Business Organisations President Michael Potter, ANZ Banking Group CEO John McFarlane and Investment and Financial Services Association (IFSA) CEO Richard Gilbert.

So far the reforms announced last week by Federal Treasurer Peter Costello have attracted a fair bit of opposition from business. Parliamentary Secretary to the Treasurer Senator Ian Campbell said he knew from the outset that business wouldn’t like them. “But we are in the business of building a better marketplace for all businesses and for the country and shareholders,” he said.

Senator Campbell will meet with the group next week to discuss the detail of the proposals.