Latest on Anti-corruption Summit: Setback for David Cameron as British Virgin Islands rebuffs his calls to publish details of who owns offshore firms

British Virgin Islands has rebuffed calls by David Cameron for British overseas territories and crown dependencies to publish details of who owns offshore firms.

Mr Cameron’s anti-corruption summit risked ridicule this morning after it emerged that Panama, and UK overseas territories like the British Virgin Islands (BVI), which have been at the centre of tax avoidance controversies, had also not been invited.

Mr Cameron opened his Anti-Corruption summit in London with a call for the British Crown dependencies to move to a "gold standard" of publishing in full lists of beneficial ownership of companies.