Sadly, it looks like I will be able to say I told you so.
The Metropolitan Police just do not know what to do with the Lib Dem call for a police inquiry.
Anyone with a grasp of the applicable law would tell you that it (as it stands) was a matter neither for criminal law nor for the police. (See, for example, BBC's Nick Robinson here.)
But, just so the Lib Dems can feel they are being taken seriously, a review will take place to see if an inquiry should take place. This is a waste of the police's time.
The Lib Dem ploy can now be seen as what it was: a mere headline-grab.
It is depressing for me that the Lib Dem "shadow" home secretary thought reporting a matter to the police, when no crime could have been committed on the facts then available, is an appropriate political manoeuvre. Such a man should never be put in charge of the police.
The Lords in question correctly face parliamentary and media censure; they may face, subject to a change in the law, expulsion from legislature, and rightly so; but to involve the police and the criminal law in a parliamentary matter was an extremely unfortunate ploy.
That is not how a liberal democracy should work.