Conservative MP Michael Cooper is accusing senior Brookfield executives of defying a House of Commons order to testify regarding former executive and now-Prime Minister Mark Carney’s past role at the firm.
"Top Brookfield execs defy House of Commons order to testify at committee about Carney's vast conflicts and use of offshore tax havens. Ethics Committee meeting to receive advice from House of Commons law clerk on potential consequences as Brookfield covers up for Carney," Cooper said Wednesday on X.
Conservatives have accused Carney of maintaining unresolved conflicts of interest tied to his past work at Brookfield and other financial firms, arguing he still knows what assets were placed in his blind trust and could benefit from prior arrangements.
They claim his disclosures lack transparency and fail to fully detail his holdings or trust structure. Critics also point to Brookfield’s use of offshore jurisdictions such as Bermuda, raising questions about potential tax-haven links. While Carney denies wrongdoing, Conservatives insist he divest entirely or make his assets public, with proposals for tougher ethics laws and fuller financial disclosure.
In a letter dated Nov. 4, Brookfield said its senior leadership remains willing to cooperate but argued the official best suited to appear is Justin B. Beber, the company’s chief operating officer.
“Brookfield remains committed to supporting the Committee’s important work and we want to ensure that our testimony can appropriately address the enquiry’s terms of reference,” the company wrote.
“To support the Committee’s study with the most relevant and informed testimony, we believe the Committee would benefit most from hearing directly from Justin B. Beber,” the letter said, noting he “has primary oversight of Brookfield’s corporate operations, including legal and compliance activities.”
Brookfield wrote that senior executives Mr. Flatt and Mr. Teskey are unable to appear, arguing they are not best positioned to speak to the Conflict of Interest Act review and also reside outside Canada.
“Due to their significant pre-existing travel and business commitments, [they] are unavailable to appear before the Committee between now and year-end,” the letter stated.
The company added it “does not possess expertise in regulatory frameworks governing public officials, nor does Brookfield act as a trustee or administer blind trusts for public office holders or anyone else.”
The dispute comes as the Ethics Committee examines conflict-of-interest rules and seeks testimony from Brookfield regarding Carney’s prior work at the firm, including how private sector obligations intersect with political leadership. Government MPs say the review is routine, while Conservatives allege unanswered questions about Carney’s past financial interests.
Brookfield said it remains prepared to participate once “clarification requested in our previous letter” is provided to ensure testimony aligns with committee mandates.