This is the best summary I could come up with:

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“What you describe is rampant violation,” said Conacher, co-founder of Democracy Watch, referring to the Bank Act, which governs the behaviour of Canadian financial institutions.

CBC’s Go Public team began investigating in 2017, after three TD Bank employees spoke out about sales targets they considered unethical and harmful to customers.

Marketplace showed excerpts of our hidden camera findings to certified financial planner Sandi Martin, who used to work for a big bank, but left over a decade ago because she couldn’t stomach the sales environment.

None of the advisors asked about existing debt, instead recommending that our tester invest the full $50,000 in products like GICs and mutual funds, which help bank employees hit their sales targets.

During the five visits to the banks, advisors at BMO, Scotia and TD incorrectly said the mutual fund fees are only charged on the profit the investment earns, not the entire lump sum.

The federal finance minister oversees the FCAC, but Chrystia Freeland declined a request for an on-camera interview and avoided questions when Marketplace caught up with her at a recent Toronto event.

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