The Investment Funds Institute of Canada (IFIC)

The Investment Funds Institute of Canada (IFIC) is the voice of Canada's investment funds industry, including fund managers, distributors and industry service organizations. IFIC proactively influences and advances industry issues within the regulatory framework, members' efficiencies, knowledge and proficiency. IFIC provides a consistently high level of service to enable dealer and manager members to work together in a cooperative forum to enhance the integrity and growth of the industry and strengthen investor confidence.

Our vision is to provide the most innovative and effective trade association services that will support and enhance the investment funds industry in its drive to provide the leading investment vehicle for Canadians.

IFIC is dedicated to enhancing the integrity and growth of the industry. We do this by being the voice of the industry and providing services that improve the regulatory framework, improve Members' knowledge and proficiency, improve efficiencies, enhance investor confidence and facilitate communications among Members. We believe in providing Members with a consistently high level of service in a cooperative forum to allow Members to work together to enhance their industry. 

IFIC uniquely provides a forum where all industry participants (dealers and advisors, fund managers, supporting services, regulators and other interested parties) meet together to discuss issues of common interest and concern with the shared objective of creating a competitive industry and promoting investor confidence in the mutual fund product.

IFIC's Members comprise investment managers, distribution entities (both of which are full Members) and advisory and professional firms that provide service to the industry (which are Affiliates). IFIC currently has about 50 manager firms, 50 distributor firms and about 50 affiliate members.

IFIC also hosts the IIFA's business office; those IFIC employees noted below currently perform IIFA's Secretariat and accounting functions.

Regulatory Info

In Canada securities including investment funds are regulated provincially. Each province and territory has its own securities regulator which enforces its own securities laws and regulations, although there is much similarity, and a significant degree of cooperation and collaboration between the jurisdictions. The provinces and territories have together adopted rules (National Instruments) for investment funds that are intended to apply uniformly across the country. The largest concentration of mutual fund companies is based in Ontario, and this has resulted in the Ontario Securities Commission being, in practice, the primary Canadian regulator for investment funds.

The fundamental general law that governs all securities in Ontario is the Securities Act (Ontario).

The following group of National Instruments apply across Canada, and govern various aspects of the traditional mutual fund and ETF products, and how they are managed:

In addition to the general principles governing distribution of securities contained in the Securities Act of the various provinces, there are two SROs that regulate the distribution of investment funds: the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA). Each of IIROC and MFDA have published a Rulebook and they issue Notices and Guidelines to guide the behaviour of distribution firms and their advisers.

These materials are available on the SRO websites ( and

Contact Info

Head Office
Tel: 416-309-2300
Fax: 416-861-9937

IIFA Contact

John Parker
Vice-President, Finance
and CFO
Tel: 416-309-2319
Fax: 416-861-9937

Association Members

Paul C. Bourque
President and CEO

Anne Lambert
Tel: 416-309-2300

Helen O'Brien
Corporate Secretary
Tel: 416-309-2303

© 2005-2020 IIFA. All Rights Reserved.