How CIPF fits into the Canadian Regulatory System
CIPF's role in the Canadian regulatory system is shaped by two agreements:
A Memorandum of Understanding
(MOU) with the Canadian Securities Administrators
(CSA) which addresses, among other things, the governance, funding and maintenance of CIPF and its responsibilities for investor protection and reporting to the CSA. As provided for by securities laws and regulations in many Canadian provinces and territories, certain regulators have also issued Approval Orders regarding CIPF.
An Industry Agreement with IIROC
which sets out the working relationship and respective responsibilities, including the requirement for IIROC to provide prompt notice to CIPF of any situation likely to give rise to a payment out of the CIPF Fund.
IIROC is CIPF's sole sponsoring organization and CIPF is the only compensation fund approved by the CSA for IIROC Dealer Members.