US President-elect Donald Trump has disclosed that he intends to dissolve his charitable foundation, which is under investigation, the BBC reports.
The President-elect’s transition team explained that the move is aimed at avoiding “even the appearance” of any conflict of interest with his presidency.
In September, New York’s attorney general said he was investigating the Trump Foundation over suspected “impropriety”.
But Trump has dismissed the claim.
New York’s Attorney General Eric Schneiderman had said then that his office wanted to ensure the Foundation was “complying with the laws that govern charities in New York”.
“We have been concerned that the Trump Foundation may have engaged in some impropriety from that point of view,” Mr Schneiderman told CNN.
US media say Mr Schneiderman’s office has been investigating the Foundation since at least June. This, according to reports, was when it formally questioned a donation made to a group backing Republican Florida Attorney General Pam Bondi in 2013.
The $25,000 (£19,000, €22,000) payment was said to have been made at a time when Bondi’s office was reportedly considering whether to open a fraud investigation into Trump University.
But the fraud investigation never happened, even though Bondi denied the decision was influenced by the donation she received.
Aides to Trump have already admitted the donation was a mistake resulting from clerical errors, according to reports.