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<h1>Regulatory sandbox enables limited live testing with tailored exemptions to encourage securities market innovation under specified conditions.</h1> The Board may exempt any person or class of persons from application of all or any provisions of these regulations for a limited period to further innovation by testing new products, processes, services and business models in a live regulatory sandbox; such exemptions are subject to conditions specified by the Board, including ongoing compliance, and the regulatory sandbox is defined as a live testing environment permitting deployment to a limited set of eligible customers under Board specified conditions.