Canadian Investor Protection Fund
The Canadian Investor Protection Fund (CIPF) is a not-for-profit corporation created by the Canadian investment industry in 1969 to protect investor assets in the event of a CIPF member's bankruptcy. CIPF is funded by its members, which are the approximately 200 investment dealer firms regulated by the Investment Industry Regulatory Organization of Canada (IIROC). Investors automatically receive coverage by opening an account with a CIPF member. Each investor's coverage is limited to $1,000,000 Canadian dollars for any combination of cash and securities held at CIPF members. When a CIPF member becomes bankrupt, the CIPF will move the investor's account, within the limits of coverage, to another investment dealer where the investor can access it.
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