Client Asset Protection
Virtual Brokers is a registered division of BBS Securities Inc. (“BBS”).
BBS is a member of the Canadian Investor Protection Fund (CIPF). In the event of insolvency or bankruptcy of a CIPF member, each qualifying client account is entitled to protection of $1,000,000 CDN under CIPF. For additional details, please consult www.cipf.ca.
CIPF was established by the investment industry to protect investors. CIPF's mandate is to ensure, within defined limits, that the cash and securities belonging to eligible customers of Canadian investment dealers are returned to them in the event of the insolvency of a CIPF Member. Claims that are eligible for coverage are normally settled by ensuring that the trustee has sufficient assets to transfer the customer accounts to another Member. A limit has been placed by CIPF on the coverage provided for a customer's General Account and each Separate Account (described in the CIPF Coverage Policy available on CIPF's website), equal to $1 million CDN for losses of securities, commodity and futures contracts, segregated insurance funds, and cash. For more information, visit www.cipf.ca.