The Canadian Investment Regulatory Organization (CIRO) announced the launch of InnovateSafe, a regulatory sandbox that allows CIRO-regulated firms to test innovative products and technologies in a controlled environment under CIRO oversight. The initiative is positioned as a way to support innovations aimed at improving investor outcomes or enhancing capital market efficiency while enabling CIRO to build evidence in areas where regulatory expectations are not yet established. InnovateSafe can grant temporary approvals and, where warranted, targeted exemptive relief to help firms develop compliant solutions for full market deployment. Approved projects will operate with investor-protection safeguards and mandatory reporting throughout the testing period, including reporting deviations from the test plan and unexpected outcomes, with key metrics and performance data intended to inform CIRO’s understanding of risks and its future policy development and supervisory approaches. CIRO said further information, including how to apply and details on approved projects, will be posted on its website in the coming weeks.

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