Yes, I think that's a very good summary of how the system works.
What we have now done, based on the Prime Minister's direction, is ensure that anything that mentions foreign interference and an MP gets briefed up, regardless of its credibility or how confident we are in the reporting.
We also then take that intelligence and ask CSIS or CSE for what else they have on that particular thread, to try to build a bigger picture and give advice to the government. Sometimes that advice will be that there is nothing to do yet. Sometimes that advice is that we should not brief yet. Other times it will be that they think we need to take action.