Poilievre calls for update to conflict-of-interest law in latest swipe at Carney's Liberal leadership bid

Conservative Leader Pierre Poilievre is proposing to drastically change financial disclosure rules for leadership candidates, even if they don't hold public office — part of the party's ongoing attacks on Liberal leadership front-runner Mark Carney.

Poilievre announced Friday that if elected prime minister, he'd amend the Conflict of Interest Act, which applies to ministers, parliamentary secretaries, other public office holders and parliamentarians.

The changes would require party leadership candidates to disclose their holdings to the ethics commissioner within 30 days of becoming an official candidate, and make them available to Canadians within 60 days, he said. 

Poilievre said a news conference that Canadians need to know about Carney's "massive multimillion-dollar foreign holdings" now.

The proposal would also require future prime ministers and their cabinet to "sell assets that create conflicts of interests to stop politicians from ever using political office for their own benefit," according to the Conservative Party. 

The Office of the Conflict of Interest and Ethics Commissioner and an overhaul of the act were introduced by former Conservative prime minister Stephen Harper's government. On Friday, Poilievre repeatedly referred to his proposal as closing the "Carney loophole."

Online and during news conferences, Poilievre and Conservative MPs have for weeks insinuated that Carney is being "sneaky" for not yet disclosing his financial assets. 

Since Carney is not an elected politician, those disclosures aren't legally required.

Under the Conflict of Interest Act, politicians like the prime minister, cabinet ministers and parliamentary secretaries are not allowed to own what's called "controlled assets." Those are assets whose value could be directly or indirectly affected by government decisions or policy.

WATCH | Carney defends why he hasn't disclosed assets: 

Carney defends why he has not disclosed financial interests

11 days ago

Duration 1:27

Liberal leadership candidate Mark Carney is asked why he has time to get his national security clearance but has not disclosed his financial holdings. Carney says ‘it’s absolutely irresponsible’ to not have security clearance, referring to Pierre Poilievre not having it while being Conservative leader.

They are required to either sell their assets in an arm's-length transaction (where the buyer is acting in their own interest) or place them in a blind trust, which Carney has vowed to do.  

If Carney wins, he would have up to 60 days to disclose his assets to the ethics commissioner and another 60 days before that information goes public.

Carney's promise to comply with the existing laws has not deterred Poilievre, who argues Carney could win Liberal leadership, become prime minister, run in a general election and take office before the 120-day timeline is up. 

Carney's team says it's working with ethics commissioner 

In a statement, Carney's campaign said if he becomes prime minister, "he would not merely comply with all applicable ethics rules and guidelines, but surpass them."

The campaign said Carney has already contacted the Office of the Conflict of Interest and Ethics Commissioner "to help ensure all appropriate steps can be initiated right away."

The rules do not require public office holders to reveal how much money they have or the value of their assets.

Since Poilievre is a long-serving MP, he has had to make disclosures — including that he's the sole owner of a rental property in Ottawa.

Before jumping into Canadian politics, Carney led the bank of Canada and the Bank of England for years. He's also served on the board of directors of some prominent businesses, non-profits and philanthropic organizations, including one of Canada's largest publicly traded companies, Brookfield Asset Management (BAM).

In a statement to CBC News on Friday, Carney's campaign took its own swipe at Poilievre for refusing to get his security clearance to review documents related to foreign interference. 

"While Pierre Poilievre won't even take basic steps such as applying for a security clearance, Mark Carney will deliver change with the highest standards for integrity," said the statement. 

The Liberal leadership convention will be held Sunday in Ottawa.