The EFL has cleared Wolves of any wrongdoing regarding agent Jorge Mendes' role at Wolves.
Wolves faced questions from rival Championship clubs last month while Sky Sports News saw extracts of a letter from Leeds owner Andrea Radrizzani to the EFL and the FA demanding clarification of the working relationship between Wolves and agent Mendes.
After a 'comprehensive review', league officials have determined Mendes holds no official role at the club, owned by Fosun International, and is not deemed as a 'relevant person' and therefore will not be subject to the Owners' and Directors' Test.
Wolves, who secured promotion to the Premier League earlier this month, have maintained they have acted within the guidelines throughout the review, and Wolves managing director Laurie Dalrymple told Sky Sports News he was ready to speak with Premier League officials about Mendes' involvement at Molineux.
Ruben Neves, Diego Jota and Helder Costa are among a number of Mendes' clients to have joined Wolves since Fosun took charge of the club in 2016.
The EFL statement read: "Discussions between the EFL and management of Wolverhampton Wanderers have now concluded in regard to the matter of the relationship between the Club, majority shareholder Fosun and intermediary Jorge Mendes.
"Following the commitment made in March, as a result of some concerns raised by a number of Championship Clubs, the EFL has met with Wolverhampton Wanderers to ensure compliance with the requirements of its regulations.
At that meeting, a request for information was made by the EFL and following a comprehensive review of the detail subsequently provided by the Club, it has been determined that Mr Mendes holds no role at the Club and, as such should not be categorised as a 'Relevant Person' as defined by League regulations. On this basis there is no requirement for him to submit to the Owners' and Directors' Test.
"As part of the discussions the Club has been reminded of its continuing obligation to keep under review the status of both existing Relevant Persons, but also any other individuals who may at some point acquire the status of Relevant Person, and advise the League (and, given the recent promotion, the Premier League) accordingly.
"The EFL would like to place on record its appreciation to the management of Wolverhampton Wanderers for their help and assistance in resolving this matter within a sensible and appropriate timeframe."
Wolves released a statement shortly after the EFL announcement stating they welcomed the EFL's confirmation the club had complied with its regulations.
"After meeting with EFL representatives and providing further written detail, a comprehensive review has concluded with confirmation that the EFL is satisfied there has been no breach of its regulations," read a Wolves statement.
"We have always maintained our clarity on both FA and EFL regulations, which have been complied with explicitly since the change of ownership at the club in July 2016.
"We believe the release of these findings will bring to a conclusion any speculation surrounding the club's operation and extinguish any concerns held by other clubs."