Buckingham Palace says Queen Elizabeth II didn't lobby to keep wealth private

Feb. 8 (UPI) -- Buckingham Palace on Monday denied a report that Queen Elizabeth II has blocked potential legislation that would have required her to publicly reveal her private wealth.

The report by The Guardian said the queen's attorneys pressured government ministers to change a draft law to keep her shareholdings private.

The effort was documented in a series of government memorandums, the report said.

Buckingham Palace said Monday that the Guardian report is "simply incorrect."

"Whether Queen's consent is required is decided by Parliament, independently from the royal household, in matters that would affect crown interests, including personal property and personal interests of the monarch," the royal statement said.

Disclosures about the queen's wealth, which is believed to be in the hundreds of millions, are protected by a 1970s law that shields her earnings and investments.

The British government later gave itself authority to exempt certain companies used by heads of state from fiscal transparency laws.