Quote:
Originally Posted by opendoor
Which is the exact same as any type of account. Accounts held as deposits in a bank are covered by CDIC and securities held in a brokerage are directly owned by the individual and then any losses due to fraud/incompetence on the part of the brokerage are covered by the CIPF.
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No, the CIPF covers insolvency. It explicitly does not cover fraudulent claims made to you (as a client) or incompetence. You would have to pursue that through Errors and Omissions coverage that all licensed individuals must carry.