John Key says he's not about to sever contact with his lawyer of 20 years simply because he's a specialist in foreign trusts.

The Prime Minister is still being questioned about his finances in light of the Panama Papers revelations.

John Key's pecuniary interest declaration shows he has a short term deposit with Antipodes Trust Group Limited, a company that specializes in foreign trusts. His office says his relationship is with his lawyer who runs the company, Ken Whitney, rather than with the company itself.

SEE ALSO: Key scolded by opposition over foreign trust revelations

Mr Key has denied having any interests in foreign trusts, but New Zealand First Leader Winston Peters believes this shows he does.

"I mean Mr Key's either a settler or a beneficiary in New Zealand, or he's somehow got himself involved in a foreign trust arrangement for which he couldn't possibly qualify."

But John Key said there's nothing unusual in his lawyer's work, and went as far as to suggest the media is being careful in the way it's reporting the issue because it knows the trusts are lawful.

"The reason you were is because you don't want to get your asses sued off you, because actually they are a legitimate business, they're not the devil incarnated. I mean I could go to any law firm you choose and they all pretty much do trust work."