UK watchdog says too early to draw conclusions on Panama Papers

LONDON, April 26 (Reuters) - It is too early to drawconclusions on any links between UK banks and the "PanamaPapers", Britain's Financial Conduct Authority (FCA) said onTuesday.

The watchdog has written to some 20 banks and otherfinancial institutions asking if they have had dealings withMossack Fonseca, the Panama law firm at the heart of a massiveleak of offshore financial data.

"It is far too early to give any view as to preliminaryfindings," FCA acting Chief Executive Tracey McDermott toldparliament's Treasury Select Committee.

A significant amount of business in Panama would be expectedto be "perfectly legal", she added. (Reporting by Huw Jones; Editing by Mark Potter)