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After the Panama Papers, what next for reform?

The sign in front of the building that houses Mossack Fonseca in Panama City. The law firm has been at the center of the Panama Papers scandal.
Joe Raedle | Getty Images
The sign in front of the building that houses Mossack Fonseca in Panama City. The law firm has been at the center of the Panama Papers scandal.

The massive data leak that tied politicians, celebrities and other well-known people to possible financial crimes cast the spotlight on the shortfalls in current regulation.

The Panama Papers, which contained more than 11.5 million encrypted internal documents from the offices of Panamanian law firm Mossack Fonseca, implicated government heads in setting up "shell" companies to harbor billions of dollars offshore.

Argentinian President Mauricio Macri, Iceland's Prime Minister Sigmundur Davíð Gunnlaugsson, and Ukrainian President Petro Poroshenko are among those named in the documents as owning shell companies.

Relatives and associates of other leaders including Russia's Vladimir Putin, China's Xi Jinping and Britain's David Cameron were also identified by the team of hundreds of reporters that examined the documents over the course of a year.

On Sunday, David Cameron published his tax records in an attempt to a line under questions about his personal finances raised by the mention of his late father in the Panama Papers.

In this week's trader poll, tell us what needs to be done in light of the Panama Papers.

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