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Financial Community and Trustees

Notice:

In April 2020, CDIC protection was expanded to include foreign currency deposits and term deposits with maturity of greater than 5 years. Additional changes will come into force on April 30, 2022. PLEASE NOTE: Until then, current coverage rules apply.

On the financial frontline

On April 30, 2022, important changes to the rules governing deposit insurance protection for deposits held in trust at CDIC member institutions came into force.

These changes will have considerable implications for trustees who hold deposits in their professional capacity.

To help spread the word about the upcoming changes, you can share the wording and images below with your social communities. 

Copy this text for your social channels:

On April 30, 2022, #CDIC changed the way it protects deposits held in trust. If you’re a professional trustee, these changes could affect your clients’ funds. Find out more:
https://www.cdic.ca/financial-community/for-professional-trustees/

Are you required to hold funds in trust for others as part of your professional duties? If so, you might be a Professional Trustee. #CDIC’s new Professional Trustee framework can help you keep those funds protected. Find out how:
https://www.cdic.ca/financial-community/for-professional-trustees/

Make sure your beneficiaries are protected! Find out how #CDIC’s new professional trustee framework can do just that. Learn more:
https://www.cdic.ca/financial-community/for-professional-trustees/

The rules for #CDIC’s deposit protection for deposits held in trust by professional trustees changed on April 30, 2022. Find out how professional trustees are getting ready for April 30, 2022:
https://www.cdic.ca/financial-community/for-professional-trustees/

Don’t forget to tag us so we can share your posts!
Twitter: @CDIC_CA
Facebook: @CDICSADC
LinkedIn: @Canada Deposit Insurance Corporation (CDIC) | Société d’assurance-dépôts du Canada (SADC)

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