TSN Senior Correspondent Follow| Archive Hockey Canada said Wednesday it will stop using a little-known investment fund to settle alleged sexual assault claims, a day after Prime Minister Justin Trudeau criticized the organization for using player registration fees to maintain the fund without disclosing it to parents or players.
The fund, known as the National Equity Fund, has allowed Hockey Canada to settle a number of claims without oversight and the involvement of its insurance company. “Hockey Canada recognizes we have significant work to do to rebuild trust with Canadians,” the organization said in a statement. “We know we need to hold ourselves accountable.
That is why we are beginning a full governance review of our organization that will be overseen by an independent third party.
This will include the National Equity Fund. “While we respect that process, we also recognize some actions cannot wait. Effective immediately, the National Equity Fund will no longer be used to settle sexual assault claims.” The Globe and Mail reported Tuesday that the National Equity Fund’s assets have exceeded $15 million in recent years.