Conservatives press carney on financial disclosures as he prepares to be sworn in as prime minister
Mark Carney, Canada’s incoming prime minister, has placed all his assets, except for his “personal real estate,” into a blind trust.
According to the National Post, Carney’s spokesperson, Audrey Champoux, confirmed on Tuesday that he had completed the process and submitted documentation to the federal ethics commissioner when the Liberal leadership results were announced on Sunday evening.
“We have been actively working with the Ethics Commissioner and we have delivered a full and robust conflict of interest management plan,” she said.
The statement did not specify who would manage the blind trust, detail the plan’s provisions, or indicate which assets Carney may have divested.
Carney will be subject to federal ethics and conflict of interest laws only once Governor General Mary Simon officially appoints him as prime minister, which is expected later this week.
The Conflict of Interest Act requires Carney to disclose his assets to the ethics commissioner and either divest controlled assets or transfer them into a blind trust managed by a third party within 120 days of taking office.
Champoux stated that Carney had begun meeting his ethics requirements ahead of schedule.
However, the Conservatives have been urging him to do so since he announced his candidacy for the Liberal leadership.
The statement assured that Carney would complete the process “well in advance” of the 120-day deadline.
If necessary, Ethics Commissioner Konrad von Finckenstein may also require Carney to establish a conflict-of-interest screen to prevent interactions that could benefit his private interests.
Any such screen would be publicly listed in the ethics commissioner’s registry.
Michael Wrobel, a spokesperson for the ethics commissioner, confirmed that Carney’s team had been in contact with the office but declined to discuss or verify any steps taken regarding his assets.
Conservatives have spent months questioning Carney’s financial background and potential conflicts of interest.
Carney, a former central banker, has held senior positions in international finance. He has also served as an adviser to Justin Trudeau, most recently chairing a Liberal task force on economic growth.
During the government’s response to the COVID-19 pandemic in 2020, he played a similar advisory role.
Leading up to Carney’s election as Liberal leader, the Conservatives expressed concerns that he could become prime minister and possibly trigger an election without full financial disclosure due to existing legal timelines.
They accused him of exploiting a loophole that Opposition Leader Pierre Poilievre has vowed to eliminate.
Carney expects to be sworn in by the end of the week, but logistical steps, including security clearances for senior transition team members, must be completed first.
His swearing-in ceremony at Rideau Hall has not yet been scheduled.
Until the ceremony takes place, Carney will not engage in formal discussions with US President Donald Trump on tariffs.
Poilievre has proposed changes to ethics laws that would require leadership candidates to disclose their financial holdings within 30 days of officially entering the race and publish them within 60 days.
“Canadians deserve to know whether their Prime Minister is working against their best interests for their own profit,” Poilievre stated.
During his leadership campaign, Carney said he had stepped away from “all” professional and advisory positions, including his role as chair of Brookfield Asset Management.
However, the National Post later revealed that he remained in five volunteer positions.
On his second full day as Liberal leader, Carney met with national security agency heads and received briefings from the public service. After meeting with Liberal MPs on Monday, he did not hold any public events.
Today, I met with Ambassador Hillman about U.S. tariffs on Canadian goods.
— Mark Carney (@MarkJCarney) March 11, 2025
While we can’t control President Trump, we can control how we respond — by supporting our workers and building a stronger, more resilient economy for our future. pic.twitter.com/0PLsHQcyB2
A cropped image posted on social media showed Carney meeting with Canada’s Ambassador to the US, Kirsten Hillman, and senior public servant Christiane Fox.
