The 2nd plenary meeting of the IPFM was held in Ottawa, Canada, September 28-30, 2006 in connection with a conference of the Middle Powers Initiative, which was hosted by Canada's Department of Foreign Affairs and International Trade.

The IPFM was asked to brief this meeting on technical issues relating to the proposed Fissile Material Cutoff Treaty. This treaty, which is on the top of the nuclear arms control agenda today, would ban the production of additional fissile materials, including plutonium and highly-enriched uranium, for weapons. It would thereby make reductions in existing stocks irreversible.

The International Panel also used this occasion to release its first Global Fissile Materials Report and its first topical reports.