MFDA Investor Protection Corporation

The MFDA Investor Protection Corporation ("IPC") is a not-for-profit corporation incorporated by Letters Patent on November 14, 2002 under Part II of the Canada Corporations Act. It is a separate legal entity from the MFDA.

The MFDA IPC provides protection to eligible customers of MFDA Members on a discretionary basis to prescribed limits if securities, cash and other property held by any such Member are unavailable as a result of the Member's insolvency. Coverage of customer accounts commenced on July 1, 2005.

MFDA IPC Coverage Policy    English language icon French language icon
MFDA Investor Protection Corporation (IPC) – Excess Fund Insurance  English language icon French language icon

The MFDA and MFDA IPC have prepared a brochure describing IPC coverage. Should a Member firm wish to provide information to clients with respect to IPC coverage, the Member must use this brochure as the sole manner of communication.

MFDA IPC Brochure English language icon French language icon
MFDA IPC Claims Procedures English language icon French language icon

The terms and conditions of the approval orders of the MFDA IPC required that a Working Group, consisting of representatives of the MFDA IPC, the MFDA and MFDA Members, be established, with members of the CSA participating as observers. The Working Group was established in October 2005 and undertook to review a number of aspects of the MFDA IPC. The Report and Response, available here, are the results of that process.

MFDA IPC Working Group Report, MFDA IPC Board of Directors' Response and Related Bulletins English language icon  

IPC Issues Committee

In March 2010, the MFDA Board of Directors established an ad hoc committee to (i) consider the MFDA Investor Protection Corporation's proposal to increase the target size of its fund from $30 million to $50 million; (ii) consider other IPC issues such as the assessment calculation; and (iii) outline a strategy to communicate to and consult with the MFDA membership. The IPC Issues Committee made a number of recommendations set out in Bulletin #0437-M.

On September 30, 2010, the Committee's final recommendations were presented to the MFDA Board and the IPC Board met on October 4, 2010 to consider the MFDA Board's response to the IPC proposals. The MFDA then issued Bulletin #0452-M on October 26, 2010 notifying Members of certain changes regarding the IPC and how they will be implemented.

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