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TSC raided for Tyrie banking inquiry

The MPs who will work with Treasury select committee chair Andrew Tyrie on his banking inquiry have been agreed, according to reports.

Tyrie’s inquiry was set up in the wake of the Libor-rigging scandal. He says it will be “ringfenced” and look at the implications of the affair for banking corporate governance. It will report by the end of the year and its recommendations will be considered for inclusion in the Bank Reform Bill, now set to be published in January.

According to ITV, Conservative MP Mark Garnier, Labour MPs Pat McFadden and Andy Love and Liberal Democrat MP John Thurso, all members of the TSC will be part of the inquiry.

Six Lords will also sit on the panel, though their names have not been made public yet.

Conservative MP Andrea Leadsom, also a TSC member will not take part, despite being one of the most effective questioners during recent committee hearings with current and former senior staff at Barclays. Earlier this week, Leadsom called on Chancellor George Osborne to apologise for attempting to link Shadow Chancellor Ed Balls to the Libor scandal.

The inquiry will sit over the summer recess.


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There are 5 comments at the moment, we would love to hear your opinion too.

  1. Pity this will be for show. They haven’t acted on the previous TSC recommendations.

  2. Looks like a balanced line up

    I do hope they look outside the circle and ask the FSA how they missed, overlooked or just ingnored their findings in the visits they have made, seeing as this be under the remit of a high impact firm !!!

  3. I like Andrew, he seems a good guy and speak sense. Pity (but not surprising) the government and the FSA don’t listen to him!

  4. I hope the FSA and it’s performancein regulating the banks is also brought under scrutiny. Also the high profile resignations should be investigated eg what roles they played in the miss regulation of the banks, what amount of ‘bank lobbying millions’ were expended on them (£25 limit for IFA), where they are moving to for their next employment & were they directly or indirectly one of the lobbyists? I’m sure you can think of other areas of investigation.

  5. In spite of Promising to “Give the FSA Hell” over the RDR, Garnier barely opened his mouth at the inquiry into the RDR. Nor would he hold up his hand to vote for more accountability for the FSA.
    They are all a bunch of Whitewashers.

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