IIROC requires all of the dealers it regulates to be members of the Canadian Investor Protection Fund (CIPF). Membership in CIPF is limited to firms regulated by IIROC. Investors who have client accounts at IIROC-regulated firms are protected by CIPF when a firm becomes insolvent or ceases operations due to bankruptcy. Investor protection is automatic when a client account is opened at an IIROC-regulated firm and it covers assets held by the firm for the client, including cash and securities, within defined limits.  Member firms are required to fund CIPF through quarterly assessments which are collected by IIROC on behalf of CIPF. For more information on CIPF, see the IIROC Investor Alert on CIPF here or visit CIPF’s website at www.cipf.ca.