The Canadian Investment Regulatory Organization (Ciro) has confirmed it detected a cybersecurity threat on August 11, prompting the regulator to proactively shut down certain systems as a precaution. Despite the disruption, Ciro emphasized that all critical functions remained operational and real-time equity market surveillance continued without interruption.

Early findings suggest that some personal information belonging to member firms and their registered employees may have been compromised. In a statement, Ciro acknowledged the seriousness of the incident, noting: “Given the high standard of security that Ciro expects of both itself and its members, we are deeply concerned about this, and know our members will be too.”

The regulator has launched a formal investigation and is working alongside external cybersecurity specialists, legal advisors, and law enforcement authorities to determine the full extent of the breach. Ciro pledged to keep members informed as it works to strengthen protections and safeguard market integrity.