The Alberta Securities Commission is extending the deadline for comments on new corporate accountability rules until October 11.

The ASC’s initiative follows a similar move in Ontario, where the Ontario Securities Commission has asked several constituencies, such as accountants, lawyers and the TSX Group for its views on the need for new rules, following the Sarbanes-Oxley Bill in the U.S.

The TSX has suggested a few changes, but maintains that most of the Sarbanes-Oxley initiatives are unnecessary for the Canadian market. The TSX Venture Exchange and the BC Securities Commission have also warned that following the U.S. is inappropriate for most Canadian companies, which are small and micro-cap issuers.