Canada's Conflict of Interest Act: Tighter Rules Eyed

0:00It's April 25th. Welcome to Canada News Today, powered by AI. A House Committee just dropped a review of Canada's conflict of interest act with 20 recommendations to tighten the rules, zeroing in on potential, issues for Prime Minister Mark Carney. The big one calls for any Prime Minister to sell all controlled assets within 60 days of taking office, ditching blind trust for full divestment. This comes to make concerns over Carney's past role at Brookfield Asset Management, which handles over $1 trillion in assets where he still holds options and shares. Carney opted for a blind trust when he started, but opposition MPs say that's not enough to avoid constant conflicts, especially with his hand in. Policies affecting those markets. The Committee also wants binding rules for conflict screens, like public lobs and nonpartisan overseers, plus expanding the definition to cover. Comparic conflicts enforcing party leaders to dump tax haven investments, conservative, and block KBQA MPs back the report, arguing Prime Ministers need higher standards due

1:05to their power. Liberals fire back with a dissenting report, calling it a partisan hit job aimed at Carney alone and insisting blind trust work fine with extra screens. They worry strict rules could scare off private sector talent from public service. Democrats, ethics pros, and officials testified, but Liberals say the wrecks ignore solid advice on trust being effective. One top aid even sold his own Brookfield shares to manage Carney's screen of over 100 companies. Their reports now tabled in the House for a vote, but with Liberals at 174 seats after recent wins, they'll likely kill it. They're also set to tweak committee makeup for a government majority, which conservatives warn will hobble oversight on scandals like arrive can. Creating or lab security lapses, leaving ethics probes in the dust.