Michael Foot, the former managing director of the Financial Services Authority conducting an independent review of British offshore financial centres, has published a progress report detailing discussions so far. The review looks into the long-term opportunities and challenges facing British Crown Dependencies and Overseas Territories as financial centres. In recent months, politicians and leaders worldwide have called for a crackdown on global tax havens, and have been working alongside the Organisation for Economic Cooperation and Development to allow for more disclosures and transparency from offshore centres. 'All of the financial centres have committed to the internationally agreed standard on the exchange of tax information developed by the OECD. However, the progress report published by the OECD on 2 April 2009 following the G-20 summit shows that a number of the financial centres have more to do to implement the international standard,' Foot, also a onetime inspector at the Central Bank of The Bahamas, said in the report. The progress report summarises the initial discussions with British Crown Dependencies and Overseas Territories on a variety of issues, including financial supervision and transparency; taxation in relation to sustainability and future competitiveness; financial crisis management; and international cooperation. More conclusions will follow later in the year, following a wider consultation with interested parties.