As of January 1, 2023, the former Canadian Investor Protection Fund (Former CIPF) and the MFDA Investor Protection Corporation (MFDA IPC) were amalgamated to form a new investor protection fund: the Canadian Investor Protection Fund (CIPF)/Fonds canadien de protection des investisseurs (FCPI). To review key documents of the Former CIPF and MFDA IPC, or to find out more information about this initiative led by the Canadian Securities Administrators (CSA), please see the links below:
CSA Staff Notice of Approval 25-308 Approval and Acceptance of Canadian Investor Protection Fund
Key MFDA IPC Documents (pre-merger)
Key Former CIPF Documents (pre-merger)
CIPF provides limited protection for property held by a member firm on behalf of an eligible client, if the member firm becomes insolvent. CIPF member firms are members of Canadian Investment Regulatory Organization (CIRO) that are: (i) investment dealers and/or (ii) mutual fund dealers. Please click here for a list of CIPF Investment Dealer member firms and here for a list of CIPF Mutual Fund Dealer member firms.
CIPF coverage is custodial in nature. CIPF does not provide protection against any other type of risk or loss. If you have an eligible account with a member firm, and that firm becomes insolvent, CIPF works to ensure that property being held for you by the firm at that time is given back to you, within certain limits. Client property that is eligible for CIPF protection includes securities and cash, but excludes crypto assets. In certain circumstances, CIPF’s role may involve requesting the appointment of a trustee in bankruptcy.
ShareA new CIPF/IIROC webcast entitled “Membership Disclosure–Benefits of IIROC Membership” was released on May 9, 2018. The webcast is approximately 20 minutes in length, and features Lucy Becker (IIROC), Ilana Singer (CIPF) and Rozanne Reszel (CIPF).
In January of 2017, new IIROC and CIPF Membership Disclosure rules came into effect and one final amendment will come into effect on July 1, 2018. The IIROC Membership Disclosure Policy was designed to raise public awareness about which investment firms and individuals are regulated by IIROC, and the requirements and ethical and professional standards to which they must adhere. The CIPF Disclosure Policy describes the requirements for disclosure of CIPF membership by Members. The purpose of this short webcast is to explain the changes and highlight the benefits of IIROC membership, including CIPF coverage. The webcast also communicates results of third-party surveys conducted for IIROC and CIPF. The webcast qualifies for 0.5 CE compliance credit.
The webcast can be accessed in English here and in French here.