Britain's nominee for the European Commission is to sell his shares in a public relations and lobbying firm to avoid any suggestion of a conflict of interest.
Lord Hill holds shares in Huntsworth plc, which bought the company he founded, Quiller Consulting, in 2006.
Downing Street does not seem to believe the shareholding does create a conflict of interest, pointing out that Lord Hill has been a minister for four years and sits in the Cabinet.
That raises the question: 'Why are shares in a lobbying firm OK for a British Cabinet Minister, but don't look good for a potential EU Commissioner?"
Lord Hill, David Cameron's nominee as Britain's new European Commissioner, said he would have been "mad" not to accept the Prime Minister's offer.
Asked whether he was a eurosceptic, the former lobbyist said he was "not one for names or badges or boxes" but that he wanted to reform Europe to make it stronger and serve citizens better.
Mr Cameron is in Brussels tonight in a bid to secure one of the key economic portfolios in the European Commission for Britain.
Prime Minister David Cameron will return to Brussels to try and secure a European Commission post for Britain today.
After failing to prevent Jean-Claude Juncker being installed EU president, Mr Cameron has announced that Lord Hill of Oareford is the UK's nomination to serve in his team.
The Prime Minister's spokesman said the peer would be treated with "very very considerable respect" by EU figures.
"In terms of the UK portfolio, our view about the importance of economic priorities to us hasn't changed and Lord Hill's nomination is fully consistent with that," the spokesman added.
European Union heads of state and government are set to attend the EU summit tomorrow, after Jean-Claude Juncker was elected head of European Commission.
The European Commission's newly-elected head Jean-Claude Juncker found himself heckled by Eurosceptics in the European Parliament. Mr Juncker told MEPs (in French): "The single currency protects Europe." He was subsequently heckled by some who deemed it "rubbish".
He accused Ukip leader Nigel Farage, a staunch opponent of the appointment, of "secretly" voting for the former leader of Luxembourg.
Mr Juncker addressed him (in French): "I'm led to believe that your Parliament will vote by a secret ballot. And I understand that, because Mr Farage wouldn't want his voters to discover he voted for me".
The appointment of Jean-Claude Juncker as European Commission president is a "very good sign" for Europe's ability to act, German Chancellor Angela Merkel said, after a meeting with leaders of south east European countries in Croatia.
Ms Merkel added: "I would like to congratulate Jean-Claude Juncker on his election as EU president with a clear result in the first round of voting [...] It will inspire us to resume the work with the European commission."
Jean-Claude Juncker denied being a federalist after being elected as European Commission President.
Mr Juncker told ITV News Political Correspondent Carl Dinnen that he did not want a "United States of Europe". He added: "I will negotiate with David Cameron and others, and will make a fair deal with him".
New Foreign Secretary Philip Hammond has insisted he will not be "threatening" other EU states as the UK seeks to renegotiate its position in the bloc.
Mr Hammond is seen as a more eurosceptic voice than his predecessor, William Hague.
"I'm going to focus on making sure that we have a successful renegotiation with our European partners," he said.
"I don't think the way to enter a negotiation is to start issuing threats."
Jean-Claude Juncker has been elected as European Commission President.
The European Parliament voted for him to replace Jose Manuel Barroso as head of the EC.
Nigel Farage has called incoming European Commission chief Jean-Claude Juncker the ultimate Brussels insider'.
ITV News Political Correspondent Carl Dinnen has tweeted during a meeting with the European Parliament:
Farage to Juncker 'You are a sociable cove with a very much better sense of humour than most people I've met in Brussels.'
But Mr Farage says Mr Juncker is the ultimate Brussels insider. Juncker looks on arms crossed.
Farage has to laugh as Juncker says at least secret ballot will hide the fact that the UKIP leader voted for him.
Jean-Claude Juncker has said he would work towards the introduction of a minimum social wage in each member state of the European Union.
The Designated European Commission President has been addressing European Parliament before a vote on his nomination to replace Jose Manuel Barroso as head of the European Commission.
Juncker previously said he favours each EU country setting a minimum wage as a proportion of its own median income, which varies enormously between Luxenbourg at the top and Romania and Bulgaria at the bottom.