Self-Regulatory Organizations

Self-Regulatory Organizations and Investor Protection Funds


Self-Regulatory Organizations

A self-regulatory organization (SRO) is an organization that represents its members and is organized for the purpose of regulating the operations, standards of practice, and business conduct of its members and their representatives with a view to promoting the protection of investors and the public interest through the establishment of rules that promote ethics and equality. The Securities Act (Alberta) gives the ASC authority to recognize SROs. The SROs currently recognized by the ASC are the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC).

On August 3, 2021, the Canadian Securities Administrators (CSA) announced the creation of a new single SRO that will consolidate the functions of IIROC and the MFDA. The goals and objectives of the new SRO will be to enhance investor protection and public confidence, ensure fair and efficient markets, accommodate innovation and to adapt to continually evolving industry conditions. The new SRO is expected to be in place by the end of 2022.

Related information:

Click on a title below to see the documents associated with each currently existing organization.

Mutual Fund Dealers Association of Canada (MFDA)
Investment Industry Regulatory Organization of Canada (IIROC)

Investor Protection Funds

The Canadian Investor Protection Fund (CIPF) is a compensation fund approved by the ASC. CIPF protects, within defined limits, the cash and securities of eligible customers of investment dealers that are members of CIPF's sponsoring organizations, in the event of such member's insolvency.

The MFDA Investor Protection Corporation (MFDA IPC) is a compensation fund approved by the ASC. The MFDA IPC provides protection to eligible customers of MFDA members on a discretionary basis to prescribed limits if securities, cash and other property held by any such member are unavailable as a result of the member's insolvency.

Note: In conjunction with the creation of a new SRO as described above, The CIPF and the MFDA IPC will be combined into a new investor protection fund (IPF), independent of the new SRO.

Click on a title below to see the documents associated with each currently existing fund.