The Conservatives have brought Liberal leadership candidate Mark Carney’s business investments into the spotlight , particularly as pertains to a company called ‘Stripe’.
Carney joined the board of directors at Stripe, a global tech company worth $65 billion that “builds economic infrastructure for the internet,” on February 21, 2021, according to the company’s website. Stripe facilitates the internet operations of tech giants like Amazon, Zoom, Slack and Wayfair.
On January 16, 2025, the day he announced he was running for Liberal leadership to replace Prime Minister Justin Trudeau, Carney said he resigned from his role at Stripe, as well as Brookfield Asset Management, Bloomberg and other companies he was involved with.
Now the official opposition is questioning Carney on whether he divested from conflict of interest companies.
Tory MP Michelle Rempel Garner at a press conference Friday morning on Parliament Hill reminded Canadians should the unelected Carney win the Liberal race on March 9, the country “could face an unprecedented situation” where Canada’s ethics laws may allow a loophole where Carney wouldn’t have to disclose his financial assets prior to calling a general election.
If Carney wins the leadership race, as polls suggest is highly likely, he will become de facto prime minister — and it will be up to him when a general election is called.
The window of time allows him to keep his investments under his hat, with the “potential to influence policy for personal enrichment at the expense of average Canadians, particularly when it comes to Stripe,” Rempel Garner told reporters, noting Carney held this role while simultaneously acting as Trudeau's economic adviser, which he has done since 2020.
Rempel Garner pointed out while Carney announced his resignation from the above companies on January 16, “notably, he didn't confirm whether or not he had divested his financial interest in these companies.”
“It's standard for board members to receive stock options or shares — and the question that I have is whether or not Mark Carney received any from Stripe, and whether or not he still holds those interests,” said Rempel Garner.
“It could translate into substantial financial gain for somebody who holds certain financial instruments, as Mr. Carney potentially could.”
“Stripe, as a federally regulated financial services company in Canada, makes disclosure of his interest especially critical.”
The loophole Rempel Garner mentioned is under Canada’s Conflict of Interest Act, which states public office holders have 60 days to file disclosures and 120 days to finalize them after assuming office.
“If Carney wins the leadership and then quickly calls an election, it's conceivable that he wouldn't have to disclose his financial interest, such as the one in Stripe, until after an election,” she said.
“And again, this is a situation that the law didn't anticipate: an unelected person who had significant corporate board interests becoming prime minister, and then not disclosing his interest ahead of a federal election.”