SNP treasurer Colin Beattie has been released without charge after he was arrested in connection with a long-running probe into the SNP finances.
The 71-year-old was taken into custody on Tuesday morning but was released almost 11 hours after Police Scotland confirmed the arrest.
He faced hours of questioning by Police Scotland detectives.
A Police Scotland statement adds: "A report will be sent to the Crown Office and Procurator Fiscal Service.
"The matter remains active for the purposes of the Contempt of Court Act 1981 and the public are therefore advised to exercise caution if discussing it on social media.
"As the investigation is ongoing we are unable to comment further."
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The arrest of Mr Beattie, 71, who is also the MSP for Midlothian North and Musselburgh, came less than two weeks after former SNP chief executive Peter Murrell was arrested as part of the same investigation.
Mr Murrell, who is married to former First Minister Nicola Sturgeon, was questioned by officers on Wednesday April 5 as officers searched the home the couple share.
He was later released without charge, pending further inquiries.
Police Scotland have been looking into how more than £600,000 in donations to the party earmarked for an independence referendum had been used.
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