At first glance, there may seem little connection between the turmoil at the Alberta Securities Commission, one of 13 provincial and territorial agencies that regulate securities in Canada, and this week's renewed push by Ralph Goodale, the country's finance minister, to replace Canada's antiquated regulatory system with a single national body. Look again. Stephen Sibold, who left the Alberta body last month when his five-year contract as chairman was not renewed, was the fiercest provincial opponent of Mr Goodale's plans. His position was undermined in January when unnamed employees at the Alberta commission complained to the provincial finance minister of lax enforcement and questionable management practices on his watch. These were serious charges, given that his agency regulates all publicly traded companies registered in the province, including most of Canada's top energy firms.
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