Financial Community

Notice: The Government of Canada has announced that changes to the CDIC Act to modernize and enhance CDIC deposit protection will come into force on April 30, 2020 and April 30, 2021. PLEASE NOTE: Until then, current coverage rules apply.

Financial Community

This section provides information and resources for CDIC member institutions and other stakeholders within the financial community.

In particular, the CDIC Act sets out how different types of deposits receive coverage under the deposit insurance framework. It specifies the key requirements that stakeholders in the financial community, such as CDIC member institutions and brokerage firms that place deposit on behalf of their clients, must meet to ensure that these deposits are protected by CDIC.

CDIC Members

For CDIC Member institutions, you will be able to find legislation, by-laws, guidance and necessary forms to help you comply with CDIC’s regulatory requirements.  If you cannot find what you’re looking for or have any questions, please feel free to email us at members@cdic.ca.

Brokers and Other Financial Professionals

Brokers and other financial professionals play an important role in helping Canadians make informed decisions. However, the rules around deposit protection, especially for deposits held in trust, can be complicated. Here you will be able to find the resources you need to better understand how deposit insurance coverage works for the deposits you place for your clients and the various requirements that must be met to ensure these deposits are protected in the event of a bank failure.

For simplicity, many of our documents and resources refer to “brokers.” In these instances, a reference to brokers includes financial advisors, securities dealers, investment dealers, broker-dealers, and others who purchase deposits from financial institutions that are members of CDIC either on behalf of (i.e. in nominee name) or in the name of their clients (i.e. in client name).

If you can’t find what you’re looking for or have any questions, please feel free to email us at questions@cdic.ca.

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