Alberta Securities Commission chairman Stephen Sibold has been named the new chairman of the Canadian Securities Administrators, the national umbrella group representing Canada’s securities regulators.

Sibold succeeds Douglas Hyndman, the British Columbia Securities Commission chair who served as head of the CSA for eight years. Donne Smith, administrator of the New Brunswick Securities Administration Branch, was named vice-chair.

“I was honoured to represent my CSA colleagues and thank them for their support over the years,” said Hyndman. “The ongoing work of the CSA is an important component in ensuring that all Canadians have access to fair and efficient capital markets.”

“Doug Hyndman has done a tremendous job during his tenure as CSA Chair,” Sibold said. “As I step into this role, I am, among other things, focused on continuing the development of uniform legislation for the CSA, and on improving the effectiveness of the CSA,” said Sibold.

Sibold’s and Smith’s appointments were confirmed at a meeting of the chairs of the 13 provincial and territorial regulators in Toronto on Thursday April 3. Both positions are two-year terms.