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.
The newspaper in Germany which first got hold of the leaked 'Panama Papers' has said it will not make all the files public as it would not be in the public interest.
Sueddeutsche Zeitung was sent the documents - a huge collection of data relating to offshore companies - more than a year ago from an anonymous source.
Leading politicians, celebrities and business chiefs have been named in media reports since, prompting public protests, investigations and the resignation of Iceland's prime minister.
The complete set of 11.5 million documents "won't be made available to the public or to law enforcement agencies", the paper said, adding: "That's because the SZ isn't the extended arm of prosecutors or the tax investigators."
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.