B.C. NDP government fires back after Greens accuse AI minister of conflict over investments
CBC
The B.C. NDP government has responded to a video posted by the B.C. Greens accusing the minister of state for artificial intelligence of a conflict of interest for investing in a fund containing AI stocks by saying a Green MLA owns similar investments.
In the video, B.C. Greens Leader Emily Lowan calls Minister of State for AI Rick Glumac a "big-time investor" who is "potentially lining his pockets" and "putting our future in danger."
The video references Glumac's holdings in an exchange-traded fund called Global X Artificial Intelligence & Technology (AIQ), which holds shares in more than 80 tech companies, including Oracle, Tesla and Palantir.
In response, the NDP highlighted that Green MLA Jeremy Valeriote’s own disclosure statement lists similar funds that hold Oracle and Tesla.
"Just like Glumac, Valeriote holds these investments as a very small part of large funds that he does not control," said the B.C. NDP in a statement.
Near the end of Lowan’s video, Valeriote and fellow Green MLA Rob Botterell pop up, talking about how Glumac should consult B.C.'s conflict of interest commissioner.
The B.C. NDP said Glumac did so more than two months ago.
In a letter dated Jan. 9 that was distributed by the NDP on Friday, Commissioner Jeffrey Schnoor wrote that Glumac's $4,000 investment in AIQ was "not substantial" and that "it is highly unlikely that a decision would come before you that would meaningfully affect AIQ’s value."
"I am therefore satisfied that no concerns are likely to arise under the Members’ Conflict of Interest Act in relation to your holdings in AIQ," said Schnoor.
"However, as I mentioned, the public may have a different view of whether AIQ is an appropriate investment given your ministerial portfolio, but that is a matter of your own best political judgment."
Glumac decided last month to hand over the management of his investment portfolio to an adviser, according to a government spokesman, and is in the process of updating his public disclosure form.
CBC News requested an interview with Glumac but he was not made available.
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