Attorney-General Mark Dreyfus's investments questioned by opposition

Mr Dreyfus denies he has breached the code, but during question time, offered to "take a look" at the circumstances surrounding his investments that include an equity fund, which is a significant shareholder in a large litigation firm.

It is the latest in an emerging controversy which has caught up at least six Labor ministers, but Ms Ley stopped short calling for his resignation.

Mr Dreyfus' investment in Greencape Broadcap Fund - an equities fund offering investors a "diversified portfolio of large, mid and small cap Australian shares" - is of particular focus.

The fund holds nearly 10 per cent of shares in Omni Bridgeway, a large litigation firm, which the Coalition said raises a possible conflict of interest..

The Attorney-General called the opposition's questions "groundless" but said he would take another look to ensure there are no issues.

"I can assure the House that every single one of those publicly listed, managed funds that my private superannuation fund invests in have been fully disclosed to this House," Mr Dreyfus said.

"They are all, as I say, publicly listed managed funds, they are all invested to ensure they are broadly diversified and they are all funds in which I have no influence over investment decisions of that fund."

Speaking on Thursday afternoon, Liberal deputy leader Sussan Ley described the latest revelation as "an unfolding crisis, almost a farce", saying there were "legitimate questions" over the saga.

Ms Ley accused Mr Albanese of hypocrisy, after the Prime Minister promised to "do things with integrity and transparency".

"To say that it was an oversight, that he forgot, that it was overlooked demonstrates that this Prime Minister is not serious about his own code," she said.

"He's not serious about the need for integrity and transparency that he talked about. What does strict adherence with that code mean? What does it really mean?"

Despite arguing Mr Dreyfus had "clearly" breached the ministerial code, Ms Ley did not call for his resignation.

She did not answer when pressed on whether ministers who breached the code should step aside, saying only they "need to answer questions".

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Earlier in question time, opposition business manager Paul Fletcher also questioned whether Mr Dreyfus' holding shares in Pengana Emerging Companies was a possible conflict of interest.

Coalition leader Peter Dutton urged Prime Minister Anthony Albanese to seek the financial advice of the Prime Minister and Cabinet secretary Glyn Davis regarding the issue.

"This is a very serious issue," Mr Dutton said.

"The Prime Minister has claimed to the Australian public that he's going to usher in a new era, a new era where there's greater accountability, where ministers will be held to a higher standard."

The opposition's legal affairs spokesperson Julian Leeser said the revelations showed the Albanese government had "no integrity on integrity".