David Cameron faces a probe into his links with a scandal-hit banker - as a top Tory insisted the ex-PM had done "absolutely nothing wrong".
The Committee on Standards in Public Life, chaired by ex-MI5 boss Jonathan Evans, has reportedly indicated it would consider submissions by Labour over Mr Cameron's dealings with Lex Greensill, an Australian financier whose company recently collapsed.
Greensill was the main financial backer of Liberty Steel, leaving uncertainty about the future of the firm which employs around 5,000 workers in the UK.
Mr Cameron was cleared by the Registrar of Consultant Lobbyists after he was said to have privately urged Chancellor Rishi Sunak to offer financial support to Greensill Capital through Covid loan schemes.
The watchdog said Mr Cameron was not required to declare himself on the register of lobbyists as he was employed by the firm as an adviser.
But Labour is demanding an inquiry over questions about the level of access Mr Greensill was granted to Government departments.
The Sunday Times reported that Mr Greensill was awarded a security pass for 11 departments to promote a financial product he worked on.
Labour has also raised concerns that Mr Cameron had blocked tighter controls when he was Prime Minister that would have prevented his lobbying for Greensill Capital.
The Committee on Standards in Public Life will consider the concerns as part of a broader review of standards, according to the FT.
In a letter to Labour, Lord Evans made it clear that the watchdog did not investigate individual cases but indicated it would carry out a broader review of the systems for upholding standards of conduct.
The FT also reports that Mr Cameron and Mr Greensill went on a camping trip in Saudi Arabia with ruler Mohammed Bin Salman a year after the killing of journalist Jamal Khashoggi.
Business Secretary Kwasi Kwarteng insisted Mr Cameron's dealings with the firm had been addressed.
He told Sky News: "I think people have looked at this. As far as I know David Cameron did absolutely nothing wrong, he was a public servant for a long time, he's now gone into private life and was working for Greensill Capital.
"People have looked into his role, people looked into the fact that he may or may not have contacted people, officials, in the Treasury.
"As far as I know, everything was above board. He's been largely exonerated and I think we should just move on."
But Labour's Rachel Reeves said: "David Cameron's conduct around Greensill adds to a catalogue of Conservative cronyism, and concerning allegations around the use of taxpayers’ money.
"The British people deserve to know what happened here."
Keir Starmer demanded an inquiry into the row - and said workers at Liberty Steel deserved answers.
"What's happening with Greensill gets murkier by the day," he told reporters on a visit to Hartlepool.
"And I think it's obvious that there's got to be an inquiry, there are too many unanswered questions."
He added: "We need a government that steps up and gives answers to those that are not only concerned about the murky nature of what's going on, but also want to have the basic question answered, what's going to happen to me and my job in Liberty Steel."
Mr Cameron's office has been contacted for comment.
