The European Parliament voted on Wednesday to set up an inquiry committee into the Panama Papers revelations, which uncovered detailed information on offshore companies and their ultimate beneficiaries. The committee will "investigate alleged contraventions and maladministration in the application of Union law in relation to money laundering, tax avoidance and tax evasion, its powers, numerical strength and term of office." There will now be two active inquiry committees - Dieselgate, concerning auto emissions, and Panama Papers - and one special committee, LuxLeaks II.