CBC News has abruptly "ended its relationship" with Power and Politics host Evan Solomon after a Toronto Star report alleged he facilitated sales of art to wealthy Canadians.

Jennifer McGuire, the general manager and editor-in-chief of CBC News, made the announcement on Tuesday night in a note sent to staff.

"I regret to inform you that CBC News has ended its relationship with Evan Solomon host of Power and Politics and The House," said McGuire.

"We will be making announcements about the interim hosting of these programs in the next few days," she added.

The Star report released earlier on Tuesday alleged that Solomon used his CBC connections to broker high-end art deals and collect more than $300,000 in commissions.

CBC's code of ethics states that employees "must not use their positions to further their personal interests."

Among the buyers, according to the Star, are former Bank of Canada governor -- and current governor of the Bank of England -- Mark Carney and Research In Motion co-founder Jim Balsillie.

Carney, who is a friend and has also been a guest on both of Solomon's shows, allegedly agreed to make a purchase from the prominent journalist last year.

In emails obtained by the Star, Solomon tells his art collector partner after the deal that Carney's international contacts will be key to selling more paintings.

"Next year in terms of the Guv will be very interesting. He has access to the highest power network in the world," Solomon wrote.

In a statement to CTV News, a spokesperson for the Bank of England said, "Governor Carney has no enduring professional relationship with Mr Solomon. He never comments on matters relating to his personal life."

Balsillie told the Star he had no idea Solomon allegedly made money on the side from the art transactions.

In a statement released Tuesday night, Solomon said that he formed a "private business partnership with a friend to broker Canadian art,” and only had two clients. He disclosed the business to the CBC earlier this year.

"I did not view the art business as a conflict with my political journalism at the CBC and never intentionally used my position at the CBC to promote the business," Solomon said.

He also apologized for the "damage" done to the trust of the CBC and its audience, and said that he ended the relationship with his business partner after a "difficult dispute" earlier this month.

The Star's investigative reporter Kevin Donovan, who authored the story, said there is an expectation on members of the media to stay out these types of situations.

"I think veteran journalists like Evan Solomon should know better and not put himself in the position where this sort of thing can happen," Donovan told CTV News.

Jeffrey Dvorkin, the program director of the University of Toronto's Journalism program, said that a journalist "shouldn't be trading on his or her position inside a publicly funded corporation."

"To trade on access, this is a very serious conflict of interest and it calls into question whether the interviews that Solomon did on both of his programs had anything to do with any kind of financial benefit that he may or may have had in selling the art," Dvorkin told CTV News Channel.

Solomon co-founded the technology and culture magazine Shift, before joining the public broadcaster in 1994.

With a report from CTV’s Richard Madan in Ottawa