RCMP “A” Division Ottawa Commercial Crime, assisted by the Integrated Market Enforcement Teams, laid a charge against Serge Nadeau earlier today in connection with the income trusts investigation.
The investigation was initiated in December 2005 when the RCMP received allegations regarding a possible breach of security and illegal transfer of information in advance of the Government of Canada’s Nov. 23, 2005, announcement of changes to the taxation of Canadian corporate dividends and income trusts.
Serge Nadeau, age 50 of Ottawa, General Director, Analysis, Tax Policy Branch, Department of Finance Canada, is charged with Criminal Breach of Trust, in connection with the duties of his office. It is alleged that he used confidential Government of Canada information for the purchase of securities which gave him a personal benefit. Breach of Trust, under Section 122 of the Criminal Code of Canada, is an indictable offence with a maximum penalty of imprisonment for up to five years.
The RCMP works to maintain confidence in Canadian markets by preventing, detecting and deterring crimes that affect the Canadian economy. The RCMP has conducted an exhaustive investigation. The investigation into the income trusts matter is now concluded.
Crimes against the canadian economy. Could those supporting kyoto be charged under this, when kyoto targets are met.
So Brison and Goodale get off free and clear?????
While I’m glad that there’s finally proof something dirty went down here, I’m disappointed that yet again dirty polititians are getting off scot-free.
Remember Goodale’s “there was no leak?”
Will Goodale run again after this or will the Sponsorship defence of “I didn’t know what was going on under my nose, it was the bureaucrats that did it” be employed in his re-election campaign?
Serge Nadeau alone cannot account for the ridiculously abnormal levels of trading that occured. And to actually buy the line that Brison’s email didn’t tip anyone off is utterly retarded.
Who will this guy give up in order to get a lighter sentence. Regardless of whether charges are laid against anyone he names, the damage will be done, and reputations will be ruined. Scott and Goodale to start with. They have to come up in the trial, cause where did the info come from. The dream team wasn’t in place yet, so he couldn’t have dreamed the info.
My skill testing question is was he a member of any political party and if so which one, how much if any donations were made to said political party, and last but not least who as he was a senior staff member appointed him there.
It will be interesting to hear Nadeau`s testimony…will he “sing” or take the “fall”? Alot of people made a pile of money from this leak under Goodale`s watch!
Does anyone actually speak like that? Do the lawyers who craft this sort of gobble-dee-gook think they’re fooling people?
Why not just say whatever it is this clown is accused of doing?
Sheesh!
surely this one guy didnt buy all the stuff that went on that morning???
Serge, eh? Serge! Nice Anglo Saxon name. Looks like those sneaky, corrupt Anglos are at it again. Is there no scandal or bureaucratic fraud that they aren’t involved in? I wish those scoundrels would just separate and get it over with. Then those nice, honest, straight-talking french can pursue their destiny unencumbered by those Anglo criminals.
What’s that I hear? A canary?
If a Scooter Brison falls off his chair in his office , does it make any noise?
Squeal Scooter.!!!!
Big body blow to the Liberals. There was a leak under their watch, so their claim they were innocent victims of a right wing smear campaign that ultimately cost them the election are now bogus. I wonder if their income trust proposal is linked to this; were they trying to quietly put this one to bed? Surely the LPC was aware that charges were in the offing weeks ago.
Dion is also splitting his party on the anti-terrorist bill, set to Expire 1 March 07. Senior players like McLennan and Manley are criticizing his stance.
Harper to Dion:
“I understand that the leader of the Liberal party may have difficulty supporting our measures, but at least he maybe can rally the strength of leadership to support his own legislation,” Harper told the House.
Bush wants more troops in Iraq. Suzuki freaks out at radio station when actually challenged on theory of global warming.
Good day so far!
Next up: Liberal party sues everyone who accused its members, during the last election campaign, of being responsible for the income trust leak.
Nadeau, is just the scapegoat.
He may be guilty of this criminal malfeasance but others did benefit. Those others include LIberal connected fund managers whose trading activity has been documented and published.
For the RCMP to declare this matter closed is an indication of either corruption or incompetence on their part!
Bush wants more troops in Iraq. Sorry, should have been Afghanistan
Is this the real role of civil servants–to take the fall for their masters? Martin’s doctor made a bundle on this leak. Numbers don’t lie–too many associated with Liberals on this file made mega bucks. Where is the RCMP on that? I am really disappointed that our National Police Force is so easily sidelined.
Why do we need Cabinet Ministers anyway–they are not accountable nor aware of what is going on in their departments it seems. So we are paying them exalted sums for what? Time for the civil service to fight back. Enough is enough.
Time to search the archives Kate etal!
Just curious George are you a civil servant. I have my own grave concerns over the amount of unaccountable power those folks wield. So amply demonstrated in the CWB post starring Heather Fayne although not technically a civil servant close enough.
I just watched Newman on (gag) CBC discussing the Income Trust situation with reporter Bonner. In essence he said “The case is closed. Nothing to see here, folks. Time to move along.”
Pathetic.
And Bonner said there’s no connection with Liberals etc etc. Equally pathetic.
I find it hard to believe that one civil servant could be responsible for this:
Posted by MKBRAATEN
“According to STOCKTRENDS.ca, the day before the Goodale income trust announcement, the trading volume of Medisys Income Trust was 226,500, with a value of $2,604,750, average trade was $37,750, and a total of 68 transactions. According to StockTrends.ca, this stock was listed as trading at “Unusual Volumes“.
The volume of shares traded for Paul Martin linked Medisys Income Trust shares the day before the Income Trust announcement seems way to high to be a ‘co-incidence’. The volume increased 3400% from the prior day, and the following day, dropped back down about the same amount.”
I am waiting now for the rest of the players to be revealed, charged, and their “proceeds of crime” seized.
Its just another LA LA day in the land of the Demented Dominion
Mr Nadeau takes the fall
Goes before the liberal packed courts
Gets his pinky slapped
His punishment is a suspended sentence or most likely probation
Has to wear one of those liberal thongs and maybe the condom too; but probably on his nose whilst he completes 50 hrs of comunity service at the local women’s center
The real culprits go scott free(pun intended)
All involved in the scam get to keep the $$$
The Libs are happy so everyone else should be too
Then after that unpleasant little interlude,the Libs get back to their role as official opposition by accusing PM Harper and his caucus of taking their teethers and blankies and hiding them during nap break.
Yes…its just another day
Mary: we could only dream that he would give it up on who tipped for a lighter sentence, I think though it is not going to happen as the Max Sentence is only 5yrs. So with the Liberal Socialist Judges firmly in place he will most likly only get 1day less a year & for good behaviour & brushing his teeth daily he will be out in 30days, With the promise never to do it again & donate any monies earned to his favorite charity(Liberals Piggy Bank)
For those researching Serge Nadeau, here’s his BIO/RESUME
http://www.zoominfo.com/people/Nadeau_Serge_300845534.aspx
Jeff–no I am not a civil servant. Just a taxpaying Canadian who is tired of paying criminals to ‘govern’ us and also paying our civil servants to act as fall guys. We can’t win, no matter what criminal actions are ‘discovered’.
I just did a good search on serge nadeau and scott brison and came up with an MP named Richard Nadeau, Bloc.
Any relation?
I just did a google search on serge nadeau and scott brison and came up with an MP named Richard Nadeau, Bloc.
Any relation?
Updated at the Toronto (Red) Star, by none other than Susan Delacorte (wife of Liberal insider), screaming headline – “Liberals Cleared in Trust Case”. She is angling for anyone who ever said anything bad to now apologize. What a hack – it is she and her cohorts that should be apologizing to us for horrid op-eds, all in favour of the Liberals. The RCMP may have concluded their investigation, but I still say it was not just one man.
Why couldn’t it be one man?
This isn’t Adscam — an elaborate scheme where it took a bunch of people to scam the system.
It’s pretty easy for a senior departmental official to learn something that will move markets, then call his broker and make a bundle.
Why assume he was in cahoots with someone?
frank:
“Why couldn’t it be one man?
This isn’t Adscam — an elaborate scheme where it took a bunch of people to scam the system.
It’s pretty easy for a senior departmental official to learn something that will move markets, then call his broker and make a bundle.
Why assume he was in cahoots with someone?”
How do explain Brison’s email to his friend suggesting he will be very happy very soon?
Yeah, good point
Why assume he was in cahoots with someone?
He’s a Liberal!
Not to mention the spike in trading in Medisys… the company owned by Paul Martin’s physician.
SDA archives:
http://www.smalldeadanimals.com/archives/003103.html
There will be no civil justice in Canada until that twisted old demon Chretien and his swindling crew are doing tall time and having bubba two dogs pooping teaching them the value of soap on a rope.
We keep getting thrown minor party pismires when the party capos still run free.
While I don’t think Mr. Goodale would have said anything to tip off the market, I think Mr. Goodale must have known something after the fact. I remember that Mr. Goodale quite unequivecally stated that he did an internal investigation and nothing was breached.
We should dig through the media archives for Mr. Goodale’s statements.
Goodale and Brison are two people who have been cruising for a comeuppance for a very long time.
If there is any justice in our system, it should happen soon.
You Conservative’s really can’t handle the truth can you: The Liberals have been exhonerated of all wrongdoing for income trusts.
Of course you would rather just spin this into somehow being the fault of the LPC.
Does the fact the investigation is closed mean no more charges can be laid.
How many seniors, with money in income trusts, went to their broker the day after the announcement the rules were changing. I don’t think very many, so those responsible for them losing money (if they did) lays right at the doorstep of their brokers or investment bankers or whatever they are called. And maybe those that did lose money are those that made illegal gains re Scotts tip. Has Martins doctor ever repaid his illegal millions he made. Regardless of the spin by the cbc this will play out in the coming election.
Just listened to some so called expert head honch from some climate org talking about how kyoto is being implemented by other signers. He did state that the regulagtions don’t take effect till 2008, but he talked for about 3 minutes and said nothing about concrete plans or ideas. But, lots of policies have been discussed (what are they) plans are being discussed (what are they).
I have yet to hear anyone from algore, suzuki, layton or dion put forward one example of what they would do. Lots of words about nothing, and if you ask for details they turn tail and run. I don’t think they can con the voters for much longer. If Harper has to come up with a plan, why don’t they have to. And, I fully expect Harper to come up with something similar to the suggestions on these posts, and if the opposition can’t give us proof that these things don’t have to be done, voters will have nothing to compare it to, so will vote conservative.
Are not the same media and liberal talking heads and reporters who are saying the RCMP did a great investigation and the liberals are cleared blah blah, the same people who were blasting the RCMP re the Arar investigation. Same investigators so how can they be so honest in one and so dishonest in another.
Today, under the new accountability act, ministers are responsible for the actions of anyone under their charge. No wonder the liberals are so against it.
The libs are protesting too much on the innocence of goodale.
“The Liberals have been exhonerated of all wrongdoing for income trusts.”
That’s right. If convicted, this will only prove that insider trading was going on in the finance department and the Liberals refused to probe it. I feel so much better now about the prospects of having them back in government.
My first guess was an immigrant government employee but my second guess was a frenchie. I was close.
maybe Paul Hunter can do the story again tonight.stuff from when the story broke. slimey CBCpravda
“”Paul Hunter on CBC’s The National last night made extra sure that watchers understood that there was “no concrete evidence” of any wrong doing. I’m sure he repeated this line 4 times during his story about the CARP leak.”
He and Mansbridge also left the impression that the “investigative” journalists at the CBC are going to sit this one out.”
I saw this story but was not paying completet attention at the time. I thought I heard someone say that Ralph Goodale “supposedly” leaked the info..
I’m accustomed to hearing the word “allegedly” in these situations so it caught my attention.
The use one or the other word says a lot about the speakers opinion of the facts.
I admit, however, that I wasn’t really paying attention and may have just imagined it.
Anybody else catch the same thing
Today on Business Watch the lady mentioned all the activity on that day with the markets. Now, maybe it was all those that made illegal profits that lost them when the decision was reversed. As far as the bill passed yesterday, could the msm get it right. Read the reports saying the govt has 6mos to come up with a plan, I heard another one saying 180 days. Is it not 60 days, after royal accent. When those in favor of the bill don’t even know what it says, Pablo’s bill reminds me of Pavlo’s dogs, being trained to act on signal.
and another crooked frenchman in federal gubbamint.
“You Conservative’s really can’t handle the truth can you: The Liberals have been exhonerated of all wrongdoing for income trusts.”
Typical Liberal BS (and bad punctuation too); Canadians work their butts off, pay record taxes, and Liberals take credit for their prosperity.
Senior civil servant charged with criminal breach of trust, on their watch, and they are exonerated.
Poor little Libs; you actually believe this issue cost you the last election? Good luck with your new leader.
“I believe you will be happier”
No, Breach of Trust?
WTF
Globe and Mail. 07 09 06
“he chose not to be forthcoming when Globe and Mail Ottawa bureau chief Brian Laghi called concerning talk of an RCMP investigation into a possible cabinet leak.
Just before then-finance-minister Ralph Goodale was to announce the government position on income-trust taxation in November, Mr. Brison, a former investment broker, sent an e-mail to a major bank’s senior investment manager saying “I think you will be happier very soon.”
Mr. Brison’s first instinct was to deny knowledge of the e-mail”
CTV.March 07 06
Brison’s comments on Tuesday were a turnaround from a day earlier when he told the newspaper he didn’t remember sending the note.
“I acknowledge I should have been more clear in my comments,” he said Tuesday.
But New Democrat Judy Wasylycia-Leis, who made the original complaint about the unusual trading spike, wasn’t buying Brison’s explanation.
“The stories keep changing … I find it very strange” she told The Canadian Press.
also same topic-
John Moore Off. Lib flatulence admirer for CFRB in Toronto was reduced to “everyone knew what the leaked decision was going to be ,… anyway!” and sophmoric ad-hominem sputterings by a clearly intelligent, probably ruggedly handsome call in guest today, by the name of Richard.
In the hosts attempt to protect the liberals on this call in topic, (2 calls) he actually spent the largest portion of time criticizing (you’ll never guess), George Bush and the CPC, and denying his own earlier “There is no scandal here” characterization that he used a year ago as the scandal story broke.
Thanks to Richard and one other conservative caller, the host quickly moved on to more lib-squishy topics.
The Liberals were NOT exonerated. To be “exonerated” one has to be charged and tried, surely. The RCMP has closed its investigation. On what grounds? Nobody talking? Somebody been putting the big stick about? Liberals still have a great deal of power in Ottawa: the senior civil service, all those patronage appointments—and the “non-partisan” Courts (give me a break!).
Still left hanging are dozens of questions, outlined by earlier posters, that beg for some sort of Inquiry.
The Liberals are usually very good at the “nothing to see here; move along”. However, rather than let it die, Old Foot-in-mouth Dion is now demanding a public apology from the Conservatives, and Herle (he of the lead-ear on political matters) is claiming the Libs would have won 40 more seats if not for this “phoney” scandal. Real good way to keep people curious about the remaining questions.
I think it was an NDP mp who asked for the investigation. Why should harper apologize.
This is what he should say,
Mr Speaker
The leader of the opposition wants an apology and we the government want all the stolen and missing money from the sponsorship and adscam scandals returned asap. When that money is returned we promise to put it into a fund to buy carbon credits. At that time, we will consider asking the NDP to apologize as they instigated the investigation. I should also say that there are still thousands of cdns who don’t buy your innocence Mr Goodale, and Mr Bisson.
I have sent 3 e-mails to goodale and 2 to newman and no response from any of them. One to goodale was returned as mailbox was full.
Goodale: I dropped the soap.
Brison: Well, pick it up bitch.
And the Mounties got their man?
Income Trust Investigation: Charges Laid
Ottawa, February 15, 2007;
RCMP “A” Division Ottawa Commercial Crime, assisted by the Integrated Market Enforcement Teams, laid a charge against Serge Nadeau earlier today in connection with the income trusts investigation.
The investigation was initiated in December 2005 when the RCMP received allegations regarding a possible breach of security and illegal transfer of information in advance of the Government of Canada’s Nov. 23, 2005, announcement of changes to the taxation of Canadian corporate dividends and income trusts.
Serge Nadeau, age 50 of Ottawa, General Director, Analysis, Tax Policy Branch, Department of Finance Canada, is charged with Criminal Breach of Trust, in connection with the duties of his office. It is alleged that he used confidential Government of Canada information for the purchase of securities which gave him a personal benefit. Breach of Trust, under Section 122 of the Criminal Code of Canada, is an indictable offence with a maximum penalty of imprisonment for up to five years.
The RCMP works to maintain confidence in Canadian markets by preventing, detecting and deterring crimes that affect the Canadian economy. The RCMP has conducted an exhaustive investigation. The investigation into the income trusts matter is now concluded.
Posted by Kate at 12:43 PM | Comments (34) | TrackBack (0)
February 15, 2007
Nicole Foster Woollatt: Big oil’s pipeline to Stephane Dion and the Liberal Party [Updated]
Posted by Steve Janke of the Blogging Tories at 02:14 AM
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Technorati tags: Nicole Foster Woollatt, Stephane Dion, Liberal Party, Canada, lobbyists, Stephen Harper, Conservative Party, oil, Alberta, oil sands, Mark Holland
Liberal Party leader Stephane Dion has made it clear, either in his own words or through his point man, Mark Holland, that Canada’s oil industry must restrain itself in order for Canada to meet Kyoto commitments. And if the major petroleum companies, almost all located in Alberta, don’t limit themselves, Dion will legislate limits and restrictions on their activities should the Liberal Party be returned to power.
So it came as quite a surprise to me to discover that the same petroleum interests have hired Nicole Foster Woollatt, a senior member of the Liberal Party executive, to be their lobbyist.
The president of the National Liberal Women’s Commission is Nicole Foster Woollatt. But besides being a top level Liberal Party executive, Woollatt moonlights as a lobbyist, and has been doing so since 2004. Of the 83 entries in the lobbyist database for Woollatt, the majority of her clients have been mining and oil companies. The petroleum interests have just about all been from the Alberta oil patch. The ones marked with the asterisks currently have Woollatt on their payroll as a lobbyist:
• UTS Energy Corporation
• Shell Canada*
• Devon Canada Corporation
• Canadian Energy Pipeline Association
• Thermo Design Corporation
• BP Canada Energy
• Energy Innovation Network*
• Petro Canada*
• EnCana
• Canadian Association of Petroleum Producers*
• Irving Oil
• Alliance Pipeline*
• Canadian Centre for Energy Information
• Synenco Energy*
• Coalition of Canadian Energy Trusts*
• Canadian Energy Infrastructure Group*
Synenco is a great example. Woollatt is still registered as an active lobbyist for this energy concern, and has been since August 2006. And what are Synenco’s goals promoted by Woollatt’s lobbying efforts?
Welcome to Synenco Energy. We are among a select group of innovative companies working hard to increase crude oil production from the world’s second largest oil reserves, Alberta’s oil sands deposits. These deposits contain about 178 billion barrels of recoverable oil using existing technology – enough oil to meet Canada’s needs for about 250 years at current consumption rates.
Our major focus today is the Northern Lights Project, an oil sands mining and bitumen extraction project north of Fort McMurray, Alberta, Canada, and an upgrading facility near Edmonton, Alberta.
Synenco Energy is proud to be a partner in this unfolding oil sands story. As a company we are committed to developing new projects that ensure Alberta, Canada and the world benefit from this important source of secure oil.
Working hard to increase crude oil production from the oil sands? Oil to be sold to the Americans, no doubt. Does Mark Holland know about this?
Woollatt lobbied for Alliance Pipeline, 50% owned by American energy interests, which manages a pipeline moving oil from Alberta to Chicago. The horror!
None of this appears on Woollatt’s official Liberal Party bio or on Woollatt’s website.
This is interesting, because Stephane Dion has few fans in Alberta because he wants the oil industry to limits its activities, even scale back production:
Dion has already made it clear he intends to strongarm Alberta’s energy sector, bending it to his will for both economic and environmental reasons.
But that same sector has hired Woollatt to help bend Ottawa to its will. That must put Woollatt in a difficult situation:
• She is being paid to influence the government, but she is currently working hard to defeat that government.
• She is working to elect a leader who has made it clear that Alberta oil sands development will be brought under severe restrictions should he come into power, but her corporate bosses are almost certainly eager to make sure he never gets that chance.
I’m not sure I could ever square those circles, but it looks like Woollatt is making a go at it.
I would be curious to know what position, if any, Stephane Dion has on having actively employed oil industry lobbyists in positions of influence within the Liberal Party. Former Liberal MP Wajid Khan was told by Dion that he could not advice Conservative prime minister Stephen Harper on the mideast — Dion did not believe he could trust Khan to serve two masters who are working to very different agendas. Khan was told he had to make a choice, and promptly quit the Liberal Party. I wonder if Woollatt would be given the same choice.
Update: Just to show how twisted this all is, consider the following:
“We will revisit the oil-and-gas tax regime to make sure it is fair and competitive and also effective for greenhouse-gas emissions and the competitiveness of the economy,” Mr. Dion said. “The first thing I will do is look at the capital-cost allowance and I will say to the industry: If you want to have that, you need to come with projects that will be close to zero emissions, and then you will have that — and even more — if it is well done.”
His remarks drew a lukewarm response from industry leaders and economists.
Pierre Alvarez, president of the Canadian Association of Petroleum Producers, said he is concerned his sector, under a Dion-led government, would be singled out for harsher treatment.
“What we would rather do is have a conversation with Mr. Dion about, ‘What is the broader context for climate-change policy? What goals are we trying to achieve?’ ” Mr. Alvarez said. “And we would do that in a collaborative way, as Mr. Dion dedicated himself last time [when he was the federal environment minister] when we arrived at a common understanding of where industry would go.
Mr Alvarez of the CAPP would like to have a conversation with Stephane Dion. Perhaps Nicole Foster Woollatt can help. She is currently listed as a consultant lobbyist for CAPP. So when she meets up with Stephane Dion at Liberal Party headquarters and drops a hint that maybe Dion ought to have a meeting with Alvarez, is she giving him good political advice aimed at promoting the Liberal Party environment platform, or is she working for Pierre Alvarez, who is on record as really looking forward to having a chance to challenge some of what Stephane Dion is saying, face to face?
And if she doesn’t mention anything to Stephane Dion, is Alvarez and the CAPP getting its money’s worth for lobbying services? He wants a conversation with Stephane Dion. She works closely with Stephane Dion. What’s the problem?
Makes you wonder.
As with anything the Liberals do, no rules apply.
After the vote on Kyoto,(the Accord, not the dog), last night, we can now prepare for an election in the Spring. The opposition are begging for one.
How the hell can they be all concerned about the Auto industry and then vote to follow Kyoto to the letter to meet impossible targets?
Not to forget the big bucks we’ll be sending to Mo Strong’s favorite place, China. Begs the question, who’s pulling the strings??
Posted by: Liz J at February 15, 2007 08:23 AM
I found Nicole’s husband in a most compromising position……
http://www.investorvoice.ca/Regulators/PI/2495.htm
“Mr. Embury said that on the day of the announcement, a ministry policy advisor named Mike Woollatt spoke twice with Judy Cutler, of Canada’s Association for the Fifty-Plus, which goes by the acronym CARP.”
Posted by: ZiLLa at February 15, 2007 08:33 AM
What would the president of a woman’s group know about the mining & oil industry?
I wonder if her husband is the same Mike Woollatt who just happens to be a policy advisor for Ralph Gooddale?
http://64.233.167.104/search?q=cache:d-fCE1nZSeAJ:www.investorvoice.ca/Regulators/PI/2495.htm+%22Mike+Woollatt%22&hl=en&ct=clnk&cd=1&gl=ca
Posted by: JM at February 15, 2007 08:43 AM
“Working hard to increase crude oil production from the oil sands? Oil to be sold to the Americans, no doubt. Does Mark Holland know about this?”
No, no. You have this wrong. Mark Holland was quite clear about this. The oil is being “given” to the Americans, not sold.
Posted by: Mike S at February 15, 2007 09:12 AM
Same guy, JM. I doubt there is anything sinister in that fact, though. Ottawa sure seems to be a small town, though.
Posted by: Steve Janke at February 15, 2007 10:44 AM
Goodale met with investment group before tax announcement
By Eric Beauchesne and Siri Agrell
CanWest News Service and National Post
Saturday, December 10, 2005
Finance Minister Ralph Goodale had an hour-long meeting with senior representatives of Canada’s investment community — at which the issue of income trusts was discussed — only hours before his decision on the issue was announced, CanWest News Service has learned.
An official in Mr. Goodale’s office confirmed yesterday that the previously undisclosed meeting with the executive committee of the Investment Dealers Association of Canada (IDA) took place, but said those who attended left the morning meeting “no wiser” about the decision that was announced later that day after markets closed.
A spike in trading volumes and prices for income trusts and dividend rich stocks just hours before Mr. Goodale revealed the government would cut the tax on dividends and not impose a new tax on income trusts has raised suspicions that some investors may have acted on advance knowledge of the decision.
John Embury, Mr. Goodale’s director of communications, said the members of the self-regulatory organization for the securities industry raised the issue of income trusts at the end of previously scheduled regular meeting.
“There was a very vague, very general discussion,” Mr. Embury said, adding it dealt with the association’s planned submission on the income trusts issue. “They left the meeting no wiser than when they came through the door.”
Although there was media speculation that morning that Mr. Goodale was planning to make an early decision on the controversial issue, Mr. Embury said there was no discussion about the timing of the decision or what it might be.
Details about the IDA meeting come as Mr. Goodale’s office also detailed its discussions with a prominent seniors’ organization prior to the Nov. 23 announcement.
Mr. Embury said that on the day of the announcement, a ministry policy advisor named Mike Woollatt spoke twice with Judy Cutler, of Canada’s Association for the Fifty-Plus, which goes by the acronym CARP.
The first call was made by Ms. Cutler in the morning, during which she reiterated CARP’s position that a decision on the issue should be made to end the uncertainty among her members.
At that time Mr. Embury said she was assured an announcement would be made soon but was told “nothing about timing or content.”
“CARP got a phone call at about 5:15 p.m. to Judy Cutler, at which time he said, ‘Don’t leave the office, the announcement’s coming very shortly.’ And then about 5:30 the press release went out,” Mr. Embury said.
The latter phone call was made because parliamentary secretary John McKay had mistakenly reversed the government’s position on the trusts during a televised interview, causing a “torrent of anxiety.”
Mr. Embury said Mr. Woollatt phoned CARP and “a couple” of other groups to advise them of the mistake and the fact that Mr. Goodale would soon make the official policy known.
Earlier this week, CARP spokesman Bill Gleberzon told a reporter he had been contacted on the morning of Nov. 23 with information that led him to believe there would be an announcement that day.
But both Ms. Cutler and Mr. Embury said yesterday Mr. Gleberzon was not involved in the conversations and that no such knowledge was passed along.