LONDON (Reuters) - Britain's financial watchdog should drop plans to publicise on-going enforcement actions earlier, a committee of lawmakers from the UK's upper parliamentary chamber said on Monday.

The House of Lords Financial Services Regulation Committee said it has written to the Financial Conduct Authority to highlight its concerns at the watchdog's plans, saying it risks having a "disproportionate effect on firms named in investigations, where those firms are subsequently cleared of any wrongdoing".

(Reporting by Huw Jones; Editing by Toby Chopra)