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Financial Community and Trustees

Notice:

As of April 30, 2022, CDIC protection is expanded to include Registered Education Savings Plans and Registered Disability Savings Plans. There are also new rules for deposits held in trust. These changes are part of the Government of Canada’s commitment to modernize and enhance CDIC deposit protection to reflect how Canadians bank and save.

Changes to beneficiary information after a failure

After a failure, Nominee Brokers have up to three business days upon request from CDIC to provide beneficiary information so that CDIC can reimburse insured deposits held in trust.

Nominee Brokers will need to provide this information to CDIC in the required format. If this is not provided in the prescribed time after the failure date, affected Nominee Broker deposits may not be reimbursed.

For information on all the required data elements and accepted formats in providing beneficiary information to CDIC, please visit Nominee Broker Data Requirements, Version 1.0.

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