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The Electoral Commission said it had grounds to believe 'a number of criminal offences may have been committed' during the campaign.
European Parliament quaestor had urged investigation into £450,000 gifts.
Labour MP seeks answers amid reports PM stymied security services in 2016.
Nigel Farage was lavishly funded by Arron Banks in the year after the Brexit referendum, Channel 4 News has alleged, with the insurance tycoon providing him with a furnished Chelsea home, a car and driver, and money to promote him in America.
Nigel Farage is facing an investigation by European parliament authorities over claims that he failed to declare nearly half a million pounds in gifts from an insurance tycoon under investigation by the National Crime Agency.