MFDA releases bulletin regarding increase in IPC fund

Posted on June 24, 2010

On June 17, 2010, the Mutual Fund Dealers Association of Canada (MFDA) published Bulletin #0437, requesting comments on recommendations made by the Board of Directors of the MFDA Investor Protection Corporation (IPC) to increase the size of the IPC fund.

The IPC fund, which is intended to protect clients of MFDA Members in the case of Member insolvency, is expected to reach its initial $30 million target by the end of this calendar year and the IPC board has recommended accumulating a further $20 million over the next five years.

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