CIPF Disclosure Policy - Pending Implementation

Proposed New IIROC Dealer Member Rule 29.28

IIROC issued notice 14-0265 on November 13, 2014 that included proposed revisions to CIPF’s Disclosure Policy.

To View IIROC Notice, click here

Download Proposed Revised Disclosure Policy
 
Download Proposed Revised Supplemental Guide
 
Download CIPF Disclosure Policy Significant Changes

Proposed Revised CIPF Disclosure Policy (Referenced in New IIROC Dealer Member Rule 29.28) - Significant Changes From Requirements in Existing IIROC Dealer Member Rule 29.14

Proposed Revised CIPF Disclosure Policy Requirement /Reference #

 Existing Rule/Reference #

Mandatory distribution of the CIPF Official Brochure to new clients at the time of account opening
4

Dealer Members must make CIPF official brochure available to its customers upon request
29.14 (d)

CIPF Official Brochure may be distributed in electronic or hard copy form
4

Did not specify electronic distribution
29.14 (d)

Display of the CIPF Membership Symbol on Member websites is mandatory
7

No previous rule

No Member is permitted to make any reference to a third party about its CIPF risk classification
8 (b)

Not previously included in IIROC Dealer Member Rule 29.14, but restrictions on disclosure of CIPF risk classification were previously advised to Members in notification of new assessment methodology

Display of the CIPF Membership Symbol is optional on written, visual and audio advertising
6

Each Dealer Member shall include in any written, visual or audio advertising the words “Member CIPF” together with, at the option of the Dealer Member, a reproduction of the CIPF official symbol.
29.14 (e)

Exemptions to Rule 29.14(e) on advertising may be prescribed by CIPF
29.14 (i)

Any material created by the member for broad distribution to clients that provides explanations about CIPF and its protection to clients must be approved in advance by CIPF
8(a)

No Dealer Member shall include any statement or explanation relating to CIPF in any advertising, promotional or other materials other than the CIPF official symbol or CIPF official explanatory  statement
29.14 (e)

The CIPF Membership Symbol must be in legible print on the first page of all confirmations and account statements made available to clients

The CIPF Explanatory Statement must be in legible print on all confirmations and account statements made available to clients
5

The CIPF official symbol must be on the front of each confirmation and account statement sent to a customer
29.14 (c)

The CIPF official explanatory statement must be in legible print on either the front or the back (at the Dealer option) of each confirmation and account statement sent to a customer in either English or French

CIPF Explanatory Statement is one of two approved statements:

Customers’ accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request.

or

Customers’ accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at www.cipf.ca.

Definitions

 

Customers’ accounts are protected by the Canadian Investor Protection Fund within specified limits.  A brochure describing the nature and limits of coverage is available upon request.
29.14 (a) Definitions

Members must take reasonable efforts to ensure that their communication referring to CIPF complies with the General Principles of CIPF’s Disclosure Policy
2

No previous rule