The MPs who will scrutinise financial regulation plans

The MPs who will scrutinise the Financial Services Bill have been announced and are due to meet for the first time on February 21.

The 20 MPs will propose and debate amendments to the bill which will break up the FSA. It will conclude its work by March 20. It will have one month to go through the bill line by line and propose amendments which will then be voted on by the House of Commons.

Conservative MP for Aldershot George Howarth and MP for Gainsborough Edward Leigh will chair the committee. Treasury financial Secretary Mark Hoban, his Parliamentary aide Alok Sharma and his Shadow Chris Leslie are all on the committee, as is shadow economic secretary Cathie Jamieson.

Treasury select committee members and Conservative MPs Mark Garnier and Jesse Norman will contribute as will Labour committee newcomer Teresa Pearce and ex-TSC member and fellow Tory David Rutley.

Conservative MP for West Suffolk Matthew Hancock, who is close to George Osborne will also be a member.

The committee will meet for the first time after next week’s Parliamentary recess.

The other members are Conservative MPs for Staffordshire Moorlands Karen Bradley, for Chelsea and Fulham Greg Hands, Liberal Democrat MPs for Solihull Lorely Burt, for St Austell and Newquay Stephen Gilbert. Labour MPs for Islwyn Chris Evans, for Makerfield Yvonne Fovargue, for Edinburgh East Sheila Gilmore, for Leeds North East Fabian Hamilton and Social Democratic and Labour Party MP for Foyle Mark Durkan.

Once the amendments have been voted on there will be another Parliamentary debate on the bill as it then stands, before a vote decides whether it is passed to the House of Lords.