CIRO launches InnovateSafe, a regulatory sandbox designed to accelerate the safe development of transformative technologies
InnovateSafe will enable member firms to test their innovative ideas aimed at improving investor outcomes or enhancing capital market efficiencies
TORONTO, Dec. 4, 2025 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) announced the launch of InnovateSafe, a regulatory sandbox designed to allow CIRO-regulated firms to safely test innovative products and technologies in a controlled environment with CIRO oversight.
As the financial industry continues to evolve rapidly, keeping pace with the change is crucial for CIRO to retain the trust of investors and the organizations and people it regulates. InnovateSafe reinforces CIRO's commitment to delivering efficient, effective regulation that responds to the evolving needs of investors, dealers, and markets.
"InnovateSafe reflects CIRO's vision to be an agile and trusted regulator – helping the industry deliver the right financial outcomes for investors," said Alexandra Williams, Senior-Vice President, Strategy, Innovation and Stakeholder Protection. "This initiative will ensure we are enabling innovation while keeping our mandate of investor protection and supporting fair and efficient markets at the forefront."
InnovateSafe will support CIRO-regulated firms in building compliant solutions that are ready for full market deployment by granting temporary approvals and, where warranted, targeted exemptive relief. The testing environment could help accelerate the adoption of transformative or novel products, services, ideas or technologies that could help position Canada as a global leader in financial innovation. InnovateSafe would also enable CIRO to gather essential evidence and insights needed to provide regulatory clarity in areas that have not been previously addressed.
"By providing a controlled environment to responsibly test new products and technologies, we will also be able to collect real data needed to shape clearer and more complete regulatory positions on matters we haven't dealt with before," said Williams. "This initiative will advance our ability to become a more data-driven regulator."
InnovateSafe will operate under CIRO oversight, with safeguards in place to protect investors. Approved projects will have mandatory reporting requirements throughout the testing period, which include reporting deviations from the test plan and unexpected outcomes.
Key metrics and performance data reported by participants will also enable CIRO to generate regulatory insights that will help it better understand risks and their implications, as well as shape future policy development and supervisory approaches.
More information on InnovateSafe, including how to apply and details on approved projects, will be available in the coming weeks on CIRO's website.
About CIRO
The Canadian Investment Regulatory Organization (CIRO) is the pan-Canadian self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.
SOURCE Canadian Investment Regulatory Organization (CIRO)