Finance professionals find out what's in store on the OECD white list.

Last week, bankers, business lawyers and tax advisors met with Franck Biancheri and Sophie Thevenoux. The meeting was an opportunity to find out what happens now that 12 tax agreements have been signed, and Monaco is off the OECD's grey list of uncooperative tax havens.

First, Biancheri explained that the Government plans to sign a further 12 agreements with OECD member countries. This action is to show a continuing commitment to transparency, but is also a safeguard in case the OECD changes its rules.

Above all, the audience wanted to know how the agreements would be put into practice. They were assured that requests for information would be treated on a case by case basis. Each one must be backed by valid suspicion and show that active pursuit of an individual is well advanced. Vague requests fishing for information won't be allowed. It will also be possible for individuals to obtain an injunction before information is released.

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The 12 agreements: Andorra, Argentina, Austria, Bahamas, Belgium, USA, France, Liechtenstein, Luxembourg, Qatar, Samoa, San Marino, Saint Kitts.