Notice of Commission Approval – CIPF Variation and Restatement of Approval Order – Canadian Investor Protection Fund (CIPF)
The Commission issued an order (Variation Order) pursuant to section 144 of the Securities Act (Ontario) and subsection 78(1) of the Commodity Futures Act (Ontario), varying and restating an order dated May 3, 2005, as amended August 10, 2006 and on August 27, 2019, approving the CIPF as a compensation fund for dealers that are members of the Investment Industry Regulatory Organization of Canada (IIROC) pursuant to section 110(1) of Regulation 1015 made under the Securities Act, R.R.O. 1990 and section 23 of Regulation 90 made under the Commodity Futures Act, R.R.O. 1990, as amended.
The Variation Order comes into effect on January 1, 2021.
The Variation Order is part of the Canadian Securities Administrators (CSA) project aimed to streamline and harmonize the CIPF oversight regime in order to make it more consistent with the current practices and to provide for more consistency between the regulatory approach to the CIPF and the approaches to other entities overseen by the CSA. As part of this project, the Commission has also approved a new memorandum of understanding (MOU) among the CSA regarding the oversight of the CIPF.
The Variation Order is published in Chapter 2 of this Bulletin and the MOU is published in Chapter 13 of this Bulletin.