Investor Protection Funds

Investor protection funds may compensate investors for losses in which an investment dealer or mutual fund dealer becomes insolvent.

The British Columbia Securities Commission has approved two investor protection funds. The Canadian Investor Protection Fund (CIPF) is a compensation fund for customers of investment dealers that are members of IIROC. The MFDA Investor Protection Corporation (MFDA IPC) is a compensation fund for customers of mutual fund dealers that are members of the MFDA.

The CSA is leading the creation of a new, single SRO that will consolidate the functions of IIROC and the MFDA. The two existing investor protection funds – the Canadian Investor Protection Fund and the MFDA Investor Protection Corporation – will be combined into an integrated fund independent of the new SRO. The CSA also anticipates that, following additional consultations, it will consider the possibility of incorporating additional categories of dealers (i.e. exempt market dealers, portfolio managers) – presently regulated directly by the CSA – into the new SRO.

Canadian Investor Protection Fund (CIPF)

Document Published
Variation Order, revised Approval Order, Notice of Termination and revised Memorandum of Understanding for the Canadian Investor Protection Fund
2020-10-22
Canadian Investor Protection Fund Variation Order
2008-09-30
Memorandum of Understanding
2008-09-30

MFDA Investor Protection Corporation (MFDA IPC)

Document Published
Variation Order, revised Approval Order and new Memorandum of Understanding for the MFDA Investor Protection Corporation
2020-10-22
MFDA Investor Protection Corporation Variation Order, see BCN 2015/03 
2015-04-30
MFDA Investor Protection Corporation Variation Order
2006-07-13
MFDA Investor Protection Corporation Approval Order
2005-05-13

CSA Staff Notice

Document
Published
25-305 - Application for Approval of the New Investor Protection Fund [CSA Staff Notice and Request for Comment]
 2022-05-12
25-303 - 2021 CSA Annual Activities Report on the Oversight of Self-Regulatory Organizations and Investor Protection Funds [CSA Staff Notice]
2022-04-28