Willie McKay said he had done nothing wrong

McKay was criticised for a lack of information given to the Quest team, as Lord Stevens highlighted 17 transfers which were being scrutinised.

"I'm shocked at the way my full co-operation with the inquiry has been presented in this report," said McKay.

"I have not paid any bungs or made any unlawful payments to anyone."

McKay and former Rangers and Newcastle manager Graeme Souness were mentioned in Lord Stevens' report.

I have not paid any bungs or made any unlawful payments to anyone Willie McKay

Both were involved in the �8m transfer of Jean-Alain Boumsong from Rangers to Newcastle in 2005 - one of 17 mentioned in the report.

Quest stated that the transfers of Boumsong and Amady Faye involved payments to McKay, one of 15 agents mentioned in the report.

And, despite "a degree of co-operation" from the agent, the inquiry was still awaiting clarification in relation to various documents provided by him.

Souness bought Boumsong from Rangers for �8m two years ago

Clarification from McKay was also cited as a reason for refusing to sign off the transfers of Benjani Mwaruwari and Aliou Cisse to Portsmouth.

However, McKay defended his position and said he co-operated fully with Quest representatives when he met them at SFA headquarters.

"I have nothing to hide," said the agent.

McKay also defended his decision to register a race horse in the name of Portsmouth manager Harry Redknapp.

"As concerns the appropriately named Double Fantasy, I trained the horse until 2006," said McKay.

"Dandy Nicholls, who is well know to me, asked me to help generate some publicity for him and his yard by transferring the horse into Harry Redknapp's name.

"This was so it could race in Harry's colours and possibly attract other people in the football world to have horses with him."

McKay added: "I am disappointed that this gesture to Harry should feature in the Quest Report."

Souness said he was surprised to have been mentioned in the report and had offered his full co-operation to the inquiry team.

Former Scotland manager Craig Brown told BBC Sport that he knew of managers being offered money by agents but said that he knew of no examples of those advances being welcomed.

"Frankly, I'm disappointed by the Stevens report, given the length of time it has taken and the great cost involved," said Brown.

"After all this time there are still no specific accusations.

"And, if they can't prove anything, those named have every right to be upset."