MFDA Investor Protection Corporation (the “MFDA IPC”) is a not-for-profit corporation established by the Mutual Fund Dealers Association of Canada (“MFDA”) to administer an investor protection fund (“Fund”) for the benefit of clients of mutual fund dealers that are members of the MFDA (“Member Firms”). The Fund protects client assets held by a Member Firm in the event that the Member Firm becomes insolvent.
The MFDA is the sole self-regulatory organization that is the sponsor of the MFDA IPC. The MFDA IPC began offering coverage on July 1, 2005. As of October 31, 2020, the MFDA has 90 mutual fund dealers across Canada participating in the Fund. The MFDA IPC operates in all provinces except Quebec, which has its own compensation fund.