Consumer Protection Flashcards
Mutual Fund Dealer Association (MFDA) Canadian Investor Protection Fund (CIPF) Canadian Deposit Insurance Corporation (CDIC) Assuris Property and Casualty Insurance Compensation Corporation (PACICC)
1
Q
who is MFDA IPC?
A
Mutual Fund Dealers Association Investor Protection Corporation
MFDA member goes bankrupt, the IPC covers some/all of the assests held. Loss due to insolvency only.
2
Q
IPC coverage limits for trading accounts (general accounts)
A
One million
3
Q
IPC coverage limits for registered accounts (separate accounts)
A
1 million
4
Q
True or false
In the event of insolvency of member MFDA IPC covers the book value of investments regardless of market value.
A
False
Market losses are not insured.
5
Q
who funds the Canadian Investor Protection Fund (CIPF)
A
members of IIROC are automatically members of CIPF and fund it
