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).

Former CIPF

The Former CIPF was a not-for-profit organization incorporated by Letters Patent under the provisions of Part II of the Canada Corporations Act, with a non-share member structure. CIPF provided limited protection for property held by a member firm on behalf of an eligible client, if the member firm became insolvent. Member firms were investment dealers that were members of IIROC (Investment Industry Regulatory Organization of Canada). These investment firms were also automatically members of CIPF.

Below are some key documents relating to the Former CIPF:

CIPF Coverage Policy

CIPF Claims Procedures

CIPF Assessment Policy

CIPF Assessment Procedures

CIPF Disclosure Policy

Annual Report of the Former CIPF can be found in the Archived section here.

CSA Approval Orders

As provided under Canadian provincial or territorial securities laws, securities regulators that make up the Canadian Securities Administrators (CSA)  issued orders approving the Former CIPF as an investor protection fund for IIROC Dealer Members. A Memorandum of Understanding among CSA members set out the terms of their oversight framework for the Former CIPF. The Former CIPF’s mandate and responsibilities were established through these documents.

Past Insolvencies for the Former CIPF

For a list of the Former CIPF’s member insolvencies, click here. 

For information about recent past insolvencies of the Former CIPF (namely, First Leaside Securities Inc. and Barret Capital Management Inc.).