PREPARING FOR NEW REQUIREMENTS IMPACTING CDIC ELIGIBLE DEPOSITS
Effective April 30, 2022, new regulations will come into force governing deposits held by Nominee Brokers at CDIC Member Institutions. These regulations will require IIAC members that distribute CDIC eligible deposits, including GICs and High Interest Savings Accounts (HISAs), to implement various operational, supervisory and procedural changes.
To raise awareness of the new requirements, the IIAC has prepared a summary for IIAC members. It includes links to helpful industry resources.
For additional information, please contact Jack Rando.