Mark Carney's chief of staff defended the prime minister's ethics as MPs questioned why Carney had not sold the millions in stock he held, including shares in federal contractors. Marc-André Blanchard commended the prime minister at the Commons ethics committee yesterday for accumulating a large stock portfolio, as reported by Blacklock’s. 

“Canadians chose Mark Carney as prime minister because of his deep experience in both the public and private sectors,” testified Blanchard, adding they elected him because of his “vast global private sector experience.” 

“Canadians understand if we are to build a stronger, more resilient economy, one worthy of being the strongest in the G7, this experience is not optional,” he furthered. “It is essential.”

The Liberal government has admitted that Prime Minister Mark Carney’s conflict of interest “screen” for Brookfield — where he holds millions in stock — does not block the corporation’s influence on government decisions. https://t.co/Iqe2j5XWNF

— Rebel News Canada (@RebelNews_CA) September 16, 2025

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“Is Mr. Carney banned from communicating with people who are on that list?” asked Bloc Québécois MP Luc Thériault, vice-chair of the ethics committee. “Mr. Carney is well aware of his obligations,” replied Chief of Staff Blanchard.

MP Thériault then asked Blanchard if he had told the prime minister not to speak with Brookfield. Blanchard responded that Carney knows the companies on the list. When Thériault asked how that's controlled, Blanchard replied that “Mr. Carney imposes the highest standards on himself.”

BREAKING: NorthRiver Midstream lobbied Mark Carney on April 30, and he met with Brookfield Infrastructure CEO Sam Pollock on May 6, despite both interactions conflicting with his ethics screen.https://t.co/pm4lUJQrer

— Rebel News Canada (@RebelNews_CA) July 14, 2025

Conservative MP Michael Cooper alleged that public records show Carney has often met with executives of Brookfield, its subsidiaries, and related firms while prime minister. He stated, “Mr. Carney’s conflicts involving Brookfield are vast by any objective standard.”

Notably, Carney met with NorthRiver Midstream lobbyists and Brookfield Infrastructure CEO Sam Pollack soon after his assets were transferred to a blind trust—but before the July screen was formalized.

MP Cooper questioned whether the prime minister should have followed the ethics commissioner's advice regarding Brookfield. Blanchard defended the meetings, saying there were "no issues" as the investors were significant global figures, not directly linked to Brookfield, insisting that Carney upholds the "most stringent ethical rules."

A month-long parliamentary inquiry into Carney's stock dealings is underway, with a report due November 28. This follows the Conservatives' demanding (and receiving) incomplete records of Carney's meetings with Brookfield investors during his September 21-28 travels in New York and London.

CAUGHT! Conservative MP Michael Barrett calls out Mark Carney for lying during last night's Liberal leadership debate about his company Brookfield Asset Management. pic.twitter.com/Lct37XPKqZ

— Rebel News (@RebelNewsOnline) February 26, 2025

Conservative MP Shuvaloy Majumdar criticized Carney's stock portfolio as a clear conflict of interest. He stated that Carney shares the “same friends” and comes from the “same investment world” as his critics.

Duff Conacher, co-founder of Democracy Watch, argues that "huge loopholes" in current legislation would hypothetically allow Carney to intervene in general industry decisions, like tax credits, which could still benefit Brookfield-owned businesses.

Conservative MP Michael Barret advocates amending the Conflict of Interest Act to require federal party leaders to sell all stock holdings upon taking office, stating this would be "cleaner, simpler," and boost public confidence.

“Canadians are the ones who are in the dark about the decisions the Prime Minister is taking and how they are going to impact his potential future compensation,” said MP Barrett. “It’s a lack of transparency that gives rise to this concern.”

Carney's conflicts at committee - John Brassard poses an excellent question of Michael Sabia. Michael Sabia, the Clerk of the Privy Council, and Marc-André Blanchard, Carney's Chief of Staff are responsible for Carney's conflict of interest screen.

"When a person runs for prime… pic.twitter.com/LfiEWw5ygp

— cbcwatcher (@cbcwatcher) November 20, 2025

Privy Council Clerk Michael Sabia, who co-manages Carney's conflict-of-interest screen, divested his Brookfield assets only 15 minutes after learning of them in September. If he had not done so, overseeing Carney’s screen—which has been triggered 13 times since July—would have been far more complex.

Carney's business ties and potential conflicts of interest first drew scrutiny after his Liberal leadership announcement. He put all assets except personal real estate into a blind trust, stating that this went beyond legal requirements.

Following conflict of interest disclosure, the prime minister's holdings mean he must recuse himself from decisions involving 103 companies with 574 separate stocks. He also holds nearly $10 million in unsellable stock options as of December 31.