The International Swimming Federation (FINA) are refusing to reveal whether Bureau member Coaracy Nunes will be suspended from his position due to him being at the centre of a Brazilian corruption investigation.
Nunes was removed as President of the Brazilian Aquatic Sports Confederation (CBDA) late last month as part of an investigation into corruption and fraud.
Brazil's Federal Public Ministry claim to have discovered "strong evidence" of overbilling, misappropriation of public funds and embezzlement.
Police also believe that one of the companies that they have done business with, Natação Comércio de Artigos Esportivos Ltda, is actually a front company used to illegally divert public money.
This appears a clear violation of the FINA Code of Ethics which all serving officials supposedly have to fulfil.
Section D on Integrity stipulates that "no official shall, directly or indirectly, solicit, accept or offer any concealed remuneration, commission, benefit or service of any nature connected with their participation in aquatics or with their function as an official".
It adds: "No official may be involved with any company, association, firm or person whose activity is inconsistent with the objectives or interests of FINA.
"If it is unclear, whether this kind of a connection exists in any given situation, the matter shall be submitted to the Ethics Panel for a decision."
But a spokesperson today told insidethegames: "FINA at this stage won't make any comment on this matter."
Earlier this year, the world governing body hired former International Olympic Committee director general François Carrard to undertake a review into all aspects of their corporate governance.
The Bureau met in Lausanne early last month in order to consider reform proposals.
Other allegations against Nunes, head of the CBDA since 1988, include that funds designated to buy airline tickets and equipment for the Brazilian Olympic team have been misused,
The CBDA's vice-president Luiz Soares has also been ordered to be removed from office along with three other officials, Globo has reported.
It is not clear if FINA have even considered suspending the 78-year-old or referred the matter to their Ethics panel.
The FINA Bureau are next due to meet in early December during the FINA Aquatics Conference and World Short Course Swimming Championships in Windsor in Canada.