Australian Lex Greensill enjoyed an "extraordinarily privileged" relationship with government and former British prime minister David Cameron "could have been clearer" about his relationship with the financier's firm, a review has found.
The long-awaited report about Greensill Capital, the collapsed financial company that Cameron lobbied ministers for, was published on Thursday.
Boris Johnson commissioned lawyer Nigel Boardman to carry out the review amid widespread criticism of Cameron's lobbying activities.
The report, totalling 141 pages, says: "It is clear from the evidence that I have reviewed that Mr Greensill had a privileged - and sometimes extraordinarily privileged - relationship with government."
Boardman concludes that Cameron, the former Conservative Party leader, "did not breach the current lobbying rules and his actions were not unlawful".
But the report added that "Mr Cameron could have been clearer about his relationship with Greensill Capital" in his communications with the Treasury, the Bank of England and officials.
Cameron told Boardman that Greensill Capital was paying him "a good amount of money every year" and he had equity and participated in a discretionary uncapped bonus scheme.
Australian Associated Press