FSA top dogs John Tiner and Callum McCarthy received a mauling from Private Eye last week over the "humiliating" compensation deal for the victims of the split capital trusts scandal.

The Eye suggested the pair should be hauled before John McFall, chairman of the Commons Treasury select committee, to explain their failure to secure a decent settlement.

McFall, who once referred to Tiner as "sleeping on the job", is also likely to be keeping an eye on the FSA's management of inducements in the post-Spitzer era.

Seen as "the people's champion" and a future chancellor, McFall is keen to make a name for himself as a political big hitter and would be sure to pounce on the FSA if there was any whiff of scandal.