Labor has asked the Speaker of the House of Representatives to consider referring Liberal MP Tim Wilson to Parliament's powerful privileges committee.

The Victorian MP has faced a week of criticism after it was revealed he collaborated with Wilson Asset Management on a campaign against Labor's franking credit policy, failed to declare his investments in funds run by the firm to inquiry hearings, and used the taxpayer-funded probe to help spruik Liberal Party fundraisers.

Liberal MP Tim Wilson. Credit:Dominic Lorrimer

The Australian Information Commissioner is assessing whether it has jurisdiction over Mr Wilson's use of a website he co-funded with Wilson Asset Management founder Geoff Wilson.

The website features the Commonwealth coat of arms and Mr Wilson's official title as the chair of Parliament's economics committee.