Spanish referee José Luis Munuera Montero has been cleared of any wrongdoing after the country's football federation (RFEF) looked into a possible conflict of interest between his refereeing and a private sports consultancy company that he co-owns.

The RFEF released a statement on Thursday that said no further action would be taken against the 41-year-old official, who has been under fire since showing Real Madrid's Jude Bellingham a red card for directing foul language at him during Saturday's 1-1 draw at Osasuna.

Munuera closed his Instagram account after receiving tens of thousands of comments, including insults and death threats following the game, with controversy mounting after newspapers Marca and AS reported that his company, Talentus Sports Speakers, had business connections with football institutions and professional clubs.

This led to RFEF opening an investigation to analyse whether those activities were compatible with his refereeing.

"Following the study, analysis and detailed verification of the commercial, corporate and accounting information, the economic activity of these companies and the degree of Munuera Montero's participation in them, the RFEF's Regulatory Compliance Department has concluded that there is no real or potential conflict in the business activities of the referee with his work as a First Division referee," RFEF said.

"Consequently, and in accordance with the internal regulations on conflicts of interest and the RFEF's good practices, there is no reason whatsoever to justify the adoption of disciplinary measures against Mr. Munuera Montero."

José Luis Munuera Montero sent off Jude Bellingham in Real Madrid's draw against Osasuna last weekend.

Munuera denied any wrongdoing on Tuesday and said his company had not invoiced any sports entity since its creation and threatened legal action against media.

"In recent months, the disproportionate attack on the refereeing collective has become evident, and on this latest occasion I have been the target," he said.

The RFEF said on Monday referees were sickened by the abuse Montero has received since showing Bellingham a red card, with the situation reflecting the hate and verbal violence match officials endure.

Bellingham was handed a two-match suspension despite saying in his defence that the referee had misunderstood him as he was talking to himself in English.