Who Qualifies for CIPF Protection?

If you meet the four criteria below, you are eligible for CIPF protection:

  1. You (the client) have an account with a member firm that is disclosed in the records of the firm.
  2. The member firm has become insolvent.
  3. The firm, as a result of its insolvency, has failed to return or account for property it was holding on your behalf on the insolvency date.
  4. You are not considered ineligible for coverage under the CIPF Coverage Policy - see below under “Who Does Not Qualify for CIPF Protection?”

There is no requirement that you live in or be a citizen of Canada.

A member firm is an investment dealer that is a member of IIROC (Investment Industry Regulatory Organization of Canada). Investment dealers that are members of IIROC are also automatically members of CIPF. A list of member firms is available here.

Who Does Not Qualify for CIPF Protection?

The following clients are not eligible for CIPF protection:
  • Anyone who materially contributed to the insolvency of the member firm or who has the power to control the firm.
  • Directors and general partners of the member firm.
  • Some shareholders and limited partners (with 5% or more) of the member firm.
  • Other IIROC member firms or firms registered with a securities regulator.
Please refer to the CIPF Coverage Policy for complete details.