The Globe and Mail reports in its Tuesday edition that after learning of the accounting irregularities in the summer of 2014, Penn West Petroleum -- now named Obsidian Energy -- notified both the U.S. Securities and Exchange Commission and the Alberta Securities Commission. The Globe's Kelly Cryderman writes that only the SEC moved ahead with civil charges. For industry watchers, the Penn West case is concerning because it looks like the Americans are taking a tougher enforcement line than the ASC. While the ASC provided assistance to the SEC, it said last week its investigation led to a different conclusion than the SEC's. "Rest assured the ASC takes investor protection very seriously," spokesman Alison Trollope added Friday. However, Vaughan Radcliffe, a professor at the University of Western Ontario, said the ASC has to be rattled by the details laid out in the SEC legal filing. "The material that the SEC has presented is deeply troubling. And if the SEC's account is supported, I find it hard to believe that the ASC would not find these allegations to be deeply troubling, also," Prof. Radcliffe said. "A fundamental question here for Canadian regulators, and for Canadians, is why are we not taking care of our own?"