UPDATE 1-UK bankers' bonuses "will not be capped" -Myners

* New regulations will not cap bonuses

* Compliance with reforms pass to boards, shareholders (Adds British Bankers' Association)

By Stefano Ambrogi

LONDON, Nov 15 (Reuters) - British financial regulators have no intention of capping bankers' bonuses under new powers planned to curb big payouts that drive excessive risk-taking, Financial Services Minister Paul Myners said on Sunday.

Myners was trying to clarify what the reforms would mean after Finance Minister Alistair Darling said in a newspaper interview the Financial Services Authority will soon have the power to "tear up" bankers contracts.

"We're not capping bonuses because once we start capping bonuses in one sector, we're on to a slippery slope," Myners told Sky News in an interview.

He said senior people in banking are "very keen that we should do these things."

"We are going to make it clear that contracts which add bonus clauses that will add to risk, or contracts that will generate bonuses for risk-takers are no longer acceptable," Myners said.

"What we're doing is ensuring that banks no longer have bonus and incentive arrangements in place which contribute to excessive risk-taking. We're seeking to de-risk the system."