CIPF’s primary goal is to return your property to you as quickly as possible. How quickly may depend on the accuracy of the Member’s books and records.
CIPF, the trustee/receiver or other court-appointed officer must locate the assets that are available to be returned to customers.
If any eligible customer assets are missing, we will replace their value as at the date of insolvency, either by purchasing the missing securities, or by providing equivalent cash compensation. Any compensation will only be made in accordance with CIPF’s Coverage Policy and Canadian insolvency laws.
In almost all cases, CIPF works with a trustee and your account will be transferred to another CIPF Member. Once your account is established at the new Member, you will be able to access it. You need not have any direct contact with CIPF unless you choose to, or unless you have filed a proof of claim stating that you disagree with your account holdings according to the Member’s records.
For more information, please refer to the CIPF Coverage Policy.