Everyone knows that there are countless businesses out in the world practicing bad ethics on a regular basis; we see them on the news everyday. How does the government manage to regulate some of these businesses? In an article, it is said that a former chief of staff, named Kevin McCarthy, to the federal finance minister, has recently taken a new post at the Bank of Nova Scotia. Through his new role at the bank, McCarthy would potentially be able to use connections from his previous role to give his new company an unfair advantage. Some companies may be looking out for something disreputable to happen, but the possibility of this happening is cut short by the Lobbying Act, which was passed by the Conservatives in 2008; this Act prohibits any previous public office holder from lobbying and providing any influence. In addition, the Conflict of Interest Act passed by the Conservatives, also regulates the actions of past public office holders. Businesses generally stay within reason and are kept in line to follow good ethics, provided that there are regulations, like the aforementioned acts, to keep the firms on their toes.
To check out the article about McCarthy, click here!