As of January 1, 2023, the former Canadian Investor Protection Fund (Former CIPF) and the MFDA Investor Protection Corporation (MFDA IPC) were amalgamated to form a new investor protection fund: the Canadian Investor Protection Fund (CIPF)/Fonds canadien de protection des investisseurs (FCPI). To review key documents of the Former CIPF and MFDA IPC, or to find out more information about this initiative led by the Canadian Securities Administrators (CSA), please see the links below:

CSA Staff Notice of Approval 25-308 Approval and Acceptance of Canadian Investor Protection Fund
Key MFDA IPC Documents (pre-merger)
Key Former CIPF Documents (pre-merger)

What Does CIPF Do for Investors?

CIPF provides limited protection for property held by a member firm on behalf of an eligible client, if the member firm becomes insolvent. CIPF member firms are members of Canadian Investment Regulatory Organization (CIRO) that are: (i) investment dealers and/or (ii) mutual fund dealers. Please click here for a list of CIPF Investment Dealer member firms and here for a list of CIPF Mutual Fund Dealer member firms.

CIPF coverage is custodial in nature. CIPF does not provide protection against any other type of risk or loss. If you have an eligible account with a member firm, and that firm becomes insolvent, CIPF works to ensure that property being held for you by the firm at that time is given back to you, within certain limits. Client property that is eligible for CIPF protection includes securities and cash, but excludes crypto assets. In certain circumstances, CIPF’s role may involve requesting the appointment of a trustee in bankruptcy.


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