Panama's government is creating an international committee of experts to recommend ways to boost transparency in the Central American country's offshore financial industry.
President Juan Carlos Varela is trying to shore up confidence in his nation's financial sector after the leaking of 11.5 million documents from a prominent Panama-based law firm which helped create shell companies for the world's rich and famous.
Iceland's ruling party has appointed a new Prime Minister after the previous incumbent stepped aside amid the Panama Papers leak scandal.
The Progressive Party selected fisheries and agriculture minister Sigurdur Ingi Johannsson to lead until new elections are held in the autumn.
Opposition parties agreed with the ruling coalition that the elections should be brought forward following the resignation of previous Prime Minister Sigmundur David Gunnlaugsson.
Gunnlaugsson stepped down after the leak of documents from a company in Panama, dubbed the 'Panama Papers', showed his wife owned a firm with links to the island's collapsed banks, sparking protests across the country.
Recent polls show the opposition Pirate Party, led by Birgitta Jonsdottir, is in the lead.
The financial watchdog ordered banks and businesses to check whether they have links to a law firm at the centre of the Panama Papers leak.
In a letter to the European Council President in 2013 Mr Cameron argued offshore trusts should not be subject to new transparency proposals.
The nature of the tax avoidance carried out by Blairmore Holdings may have been misunderstood.