Canadian Prime Minister Mark Carney said there are protocols in place to avoid any possible conflict of interest related to government decisions that might affect Brookfield Asset Management and Stripe, two companies on whose boards he served before entering politics.
The conflict-of-interest screen was agreed upon by the official and Canada's ethics watchdog. According to the watchdog's guidelines, the screen seeks to minimize the possibility of conflicts arising between a lawmakers' public duties and their private interests or those of relatives or friends.
Carney stepped down as chairman of Brookfield and from other directorships in January, when he entered the race to succeed Justin Trudeau as leader of Canada's Liberal Party and prime minister. On Sunday, he called for an election on April 28, seeking a mandate to deal with President Trump.
Conservative Leader Pierre Poilievre, Carney's main rival, has argued the prime minister is part of the global and Canadian corporate establishment that populists detest, and highlighted his decision as chairman of Brookfield Asset Management to move the company headquarters to New York from Toronto ahead of Trump's November election win. Poilievre has also been calling on Carney to provide details of his business interests.
Carney said Monday that he has placed his assets--excluding real estate and cash--in a blind trust. "I have no control over it anymore," Carney said. "I cannot divest anything from it."
He said the screens related to Brookfield and Stripe would be administered by Canada's chief bureaucrat, the Clerk of the Privy Council.
According to securities filings, Carney held 409,300 unexercised options in Brookfield, at a market value of $6.8 million as of Dec. 31 of last year. The options expire in 2033 and 2034.
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