The Commons ethics committee passed a Conservative motion against blind trusts, similar to one used by Prime Minister Mark Carney to hide stock holdings. Conservative MP Michael Barrett called it "very timely."

“Canadians’ confidence in public institutions is low,” Barrett told the committee. “Now is the time.”

The motion sought a committee review of the Conflict Of Interest Act to enhance transparency, prevent conflicts, regulate asset ownership in tax havens, limit blind trusts, extend provisions to political leaders, and increase non-compliance penalties.

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

Disclosures show Carney must recuse himself from decisions involving approximately 100 companies due to conflicts of interest, yet many remain in his "blind trust" investment portfolio. 

His holdings include 574 separate stocks, 91% in U.S.-headquartered companies.

Carney did not disclose those dealings until becoming prime minister on March 14, as is required by law. 

Opposition MPs have proposed amendments to the Conflict of Interest Act to require all party leadership candidates to be compelled to disclose their assets. 

Commons ethics committee last night OK'd Conservative motion to review "Carney loophole" in conflict law: "Very timely," said @MikeBarrettOn, sponsor of the motion.  https://t.co/XvFsAKRfP2 #cdnpoli pic.twitter.com/YE1JWTLHvm

— Blacklock's Reporter (@mindingottawa) September 18, 2025

Liberal MPs have sparred with the Official Opposition for months over questions about Carney’s assets and conflicts of interest. 

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MP Abdelhaq Sari argued against tougher conflict laws, fearing they would deter experienced individuals from entering politics. “These are people who have worked hard in the private sector.”

Government efforts to amend the motion were defeated 5-4, according to Blacklock’s. 

Bloc Québécois MP Luc Thériault criticized Liberal objections, stating, "If you want to work in politics then you need to meet the criteria so there’s no conflict of interest or the appearance of a conflict. We’re not a recruitment agency."

Poilievre rips into Mark Carney for making "false statements" about his purported conflicts of interest and finances.

The Conservative leader calls for Carney to explain himself and place his funds into a truly blind trust. pic.twitter.com/c86OvArWN0

— Rebel News (@RebelNewsOnline) July 14, 2025

The prime minister appointed Marc-André Blanchard (Chief of Staff) and Michael Sabia (Clerk of the Privy Council) to manage potential conflicts related to Carney's record 80 corporate conflicts from Brookfield, ensuring he remains uninvolved and unaware. Carney stated a screen would “prevent … preferential treatment.”

Carney's screens seem ineffective, with revelations that NorthRiver Midstream lobbied him on April 30 and he met with Brookfield Infrastructure CEO Sam Pollack on May 6, despite the supposed "screen."

Conservative Leader Pierre Poilievre has profusely criticized Carney's Brookfield chairmanship, citing his millions in stock options in the company with Bermudan subsidiaries. 

“What if he has millions of dollars of financial interests that are opposite your interests?” Poilievre asked reporters March 7. 

“What if he is profiting from insider knowledge or power at your expense? What if his interests lie with foreign hostile governments that can undermine our country? Then he is not working for you, he is working against you.”