How CIPF fits into the Canadian Regulatory System
CIPF's role in the Canadian regulatory system is governed by the following agreements:
- A Memorandum of Understanding (MOU) with the Canadian Securities Administrators (CSA) that addresses the governance, funding and maintenance of CIPF as well as CIPF's 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 that establishes the working relationship and respective responsibilities of CIPF and IIROC. Under this agreement, IIROC must provide prompt notice to CIPF of any situation that is likely to require a payment from the Fund.
IIROC is CIPF's sole sponsoring organization and CIPF is the only compensation fund approved by the CSA for IIROC Dealer Members.