Prime Minister Mark Carney and other Canadian prime ministers should be required to divest their investment portfolios when they assume office, not just put them in a blind trust, the House of Commons ethics committee recommends in a new report.

In its report made public Thursday morning, the committee said putting assets in a blind trust isn’t good enough, recommending instead "that the Government of Canada amend the Conflict of Interest Act that, for the application of subsection 27(1) the prime minister, as a reporting public office holder, is fully divested from their controlled assets through sale, since placement in a blind trust does not constitute true divestment."

The committee also wants the law amended to require public disclosure of "high-level holdings categories placed in a blind trust by reporting public office holders (sector/asset class, and whether the holdings are Canadian-market concentrated)," a recommendation that could shed new light on the financial interests of a number of top officials and cabinet ministers.