Foot offshore probe to focus on tax transparency

In a progress report, Foot says his independent review will also examine crisis management at Britain's Crown Dependencies and Overseas Territories, particularly the tools they have in place to deal with the "consequences of the failure of a major firm". Foot's brief is to explore the long-term opportunities and challenges facing Britain's offshore centres in the wake of the collapse of the Icelandic banks and other controversies. Overseas Territories including the Cayman Islands and Gibraltar have come under fire recently from members of the G20, who are seeking to impose measures to c...