Financial exploitation is an issue that is increasingly becoming a focus of the debate in the United States, Canada and around the world, as regulators struggle to crack down on the practice.
While there are some notable successes in recent years in Canada, such as the recent crackdown on the $2-billion Ponzi scheme run by a former hedge fund manager, there are also numerous examples of unscrupulous financial companies that are exploiting Canadians in an attempt to maximize profits.
“I don’t think you’ll find a lot of companies that have really gone above and beyond the law to do something like this,” said David LeBaron, who runs the advocacy group Fairness and Justice Canada.
“It’s just a shame that they’re doing it.”
The problem of financial exploitation has become a major issue in Canada in recent months as regulators have been stepping up enforcement and have sought to bring a closer look at the problem.
The Canadian Competition Bureau recently announced it is investigating several companies for alleged financial misconduct.
The regulator has also made several recommendations to governments, including that companies with financial interests in offshore jurisdictions should not be allowed to engage in such activities. “In a lot