British Columbia’s Minister of State for Artificial Intelligence, Rick Glumac, has been cleared by the province’s conflict of interest commissioner regarding his investment in an exchange-traded fund (ETF) focused on AI technology, but faces continued scrutiny from the Green Party who are calling for his divestment and broader regulatory action.
The controversy stems from Glumac’s holdings in the Global X Artificial Intelligence & Technology ETF (AIQ), which includes shares in companies like Oracle, Tesla, and Palantir. Green Party Leader Emily Lowan released a video on March 20, 2026, accusing Glumac of a conflict of interest, suggesting he was “potentially lining his pockets” through investments in the sector he oversees. The video alleges the fund contains shares in companies engaged in “predatory” practices and “unregulated surveillance.”
In response, the B.C. New Democratic Party highlighted similar investments held by Green MLA Jeremy Valeriote. According to the NDP, Valeriote’s public disclosure statement lists funds that also hold shares in Oracle and Tesla. “Just like Glumac, Valeriote holds these investments as a remarkably compact part of large funds that he does not control,” the NDP stated.
The conflict of interest commissioner, Jeffrey Schnoor, reviewed Glumac’s $4,000 investment in AIQ and determined it was “not substantial.” In a letter dated January 9, 2026, Schnoor wrote that it was “highly unlikely that a decision would come before you that would meaningfully affect AIQ’s value.” But, Schnoor also noted that the public might perceive the investment as inappropriate given Glumac’s portfolio, stating that was a matter of “political judgment.”
The NDP also stated that Glumac proactively sought the commissioner’s advice more than two months ago. Glumac has since transferred management of his investment portfolio to an advisor and is updating his public disclosure form, according to a government spokesperson. CBC News reported that Glumac was not available for comment.
Despite the commissioner’s ruling, Lowan is maintaining pressure on Glumac, calling for him to divest from AI corporations. She also reiterated the Green Party’s call for immediate regulatory action on AI, citing concerns about privacy, worker rights, and safety. Lowan specifically referenced Palantir and Oracle, noting their contracts with U.S. Immigration and Customs Enforcement (ICE) and accusations of widespread surveillance.
The B.C. Green Caucus is also pushing for the establishment of an all-party task force on artificial intelligence to foster a common understanding among MLAs and facilitate consultation with experts from academia, industry, and the public sector. According to MLA Adam Olsen, the recent investigation into ChatGPT by the Canadian Privacy Commissioner underscores the need for the legislative assembly to understand the potential impacts of AI on society.
Lowan also pointed to examples of AI-related incidents in British Columbia, including OpenAI’s lack of transparency regarding a shooting in Tumbler Ridge and a study revealing ChatGPT downplayed the seriousness of medical emergencies in over half of cases. She also cited concerns raised by the Bank of Canada’s governor about AI potentially contributing to youth unemployment.
Leave a Reply