Are the Panama Papers protected by Legal Professional Privilege?

The reporting of leaked (or hacked) data has sparked the Financial Conduct Authority to write to a slew of financial institutions, demanding details of any links to Panamanian law firm Mossack Fonseca. “We will require updates on any significant issues or relationships identified and a full response… when your investigation is concluded” read the initial letter. Difficult issues of Legal Professional Privilege are likely to arise, reports Adam King.