Canadian Investor Protection Fund
- Canadian Investor Protection Fund
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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. The CIPF is funded by CIPF members which consist of approximately 200 investment dealers in Canada. Investors automatically receive coverage by opening an account with a member of the CIPF. 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. The CIPF works with several sponsors: the Investment Industry Regulatory Organization of Canada, Bourse de Montréal Inc., and the TSX Group of Companies.
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