Subordinated loan agreement

This agreement is a tri-party uniform agreement between an Investment Dealer Member or Mutual Fund Dealer Member and its creditor and CIRO when the Investment Dealer Member (or its private holding company) or Mutual Fund Dealer Member (or its private holding company) is issuing a subordinated debt security. The purpose of the agreement is to protect the customers of the Investment Dealer Member or Mutual Fund Dealer Member by prioritizing the payment of claims against the Investment Dealer Member or Mutual Fund Dealer Member. All claims of customers that are subject to the Canadian Investor Protection Fund (CIPF) protection are to be paid before the creditor’s claims. This agreement requires the Investment Dealer Member or Mutual Fund Dealer Member to obtain CIRO's approval regarding any repayment of funds owed to the creditor.

Subordinated loan agreement - Investment Dealer Attachment (pdf)

Subordinated loan agreement - Mutual Fund Dealer Attachment (pdf)