Skip Navigation LinksFAQ >

Insolvency

Expand All

1. If my investment dealer is insolvent, how exactly will I get my assets back?

There are various ways that CIPF can return your assets to you. In most cases, CIPF works with a trustee and your account will be moved to another CIPF Member where you can access it directly. If that is not possible, CIPF can deliver the contents or value of your account to you. If your assets are not available to be returned, CIPF can, at its option, compensate you for the market value of those assets as of the insolvency date instead of returning the physical assets.

2. How long does it take for me to get access to my assets?

CIPF's top priority is to work with the trustee to expedite the return of customer assets. The speed at which this can be accomplished will depend on the quality of the Member's records and the particular circumstances.

CIPF knows that many customers need access to the funds in their accounts to meet day-to-day living expenses, or to honor specific commitments, so we have established procedures to advance money when it would create a hardship not to do so.

3. I hold shares of XYZ Corporation in my account at a CIPF Member. Both XYZ Corporation and the Member are now insolvent. Does CIPF protect me against the loss in my account relating to XYZ Corporation?

CIPF protects customers of a Member against loss arising directly from the insolvency of the Member. CIPF will ensure the return of XYZ Corporation shares to you upon insolvency of the Member. Also see, "I hold shares of XYZ Corporation in my account. XYZ Corporation is now bankrupt. Does CIPF protect me against this type of loss?".

4. How will I know if my investment dealer is insolvent?

If your CIPF Member is insolvent, you will be notified by:
  • Mail - either directly from CIPF or from the appointed trustee/receiver, or
  • A notice published in a national and/or local newspaper

CIPF will also post a notice to the "News and Publications" section of the CIPF website.

5. How do I make a claim?

CIPF or the trustee will publish a notice, or send you a letter and a copy of your most recent monthly account statement.

If the statement sent to you agrees with your records, you do not need to do anything further as the statement will act as your proof of claim in the insolvency.

6. What if the statement that CIPF or the trustee has provided me with is not accurate?

If you disagree with the statement provided by CIPF or the trustee, you must submit a proof of claim within 180 days of the date of insolvency to CIPF or the trustee along with all documents and information to support the claim.