The Office of the Superintendent of Financial Institutions is amending its order authorizing troubled Stanford International Bank Ltd. to maintain a representative office in Canada.

Last week, the U.S. Securities and Exchange Commission charged the firm’s founder, Robert Allen Stanford, and three of his companies, alleging a fraudulent, multi-billion dollar investment scheme.

Stanford’s companies include Antigua-based Stanford International Bank, Houston-based broker-dealer and investment adviser Stanford Group Co. and investment adviser Stanford Capital Management. The allegations have not been proven.

A U.S. district court judge in Texas has granted the SEC’s request for emergency relief for investors and issued the orders freezing assets and appointing a receiver over Stanford and other defendants.

OSFI has opted to amend the order concerning the bank’s status in Canada rather than revoke it, “to allow the representative office to remain open to assist Canadian clients in trying to recover the investments made with Stanford International Bank in Antigua.”

The regulator reports that the amendment states that the representative office of Stanford International must restrict its activities to acting as a liaison between other offices of the bank and any of its clients in Canada wishing to withdraw deposits or other investments with the bank.

OSFI said it continues to review the activities of the representative office in Montreal.