Ian Russell It is good to see the Canadian Investor Protection Fund (CIPF) board weigh in on the CSA’s review of self-regulation, given the CIPF’s integral role in the Canadian self-regulatory system. In its paper, the CIPF has restricted its comments to answering one key question: Should the CIPF remain as an independent body or should it be integrated into a future SRO? The CIPF protects, within prescribed limits, client assets held by IIROC-registered firms in the event of a firm’s insolvency, in addition to managing the CIPF Fund for compensating client losses and administrating insolvencies of troubled IIROC firms. The CIPF coordinates closely with IIROC to ensure it obtains prompt notice from IIROC of a troubled situation possibly requiring compensation payments to clients through the CIPF Fund.