Canada limits activities of Stanford bankCanada's banking regulator regulator, n the mechanical part of a gas delivery system that controls gas pressure that allows a manageable flow of drug vapor to escape. regulator see reducing valve. on Monday limited the activities of Stanford International Bank to helping Canadian clients recover offshore investments. The Office of the Superintendent of Financial Institutions The Office of the Superintendent of Financial Institutions or OSFI is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system". (OSFI OSFI Office of the Superintendent of Financial Institutions (Canadian) OSFI Open Standards Fabric Initiative OSFI Open System File Interface ) said in a statement it would allow the bank, whose founder faces fraud charges, to keep its Canadian branch open "to assist Canadian clients in trying to recover the investments made with Stanford International Bank in Antigua." The order was backdated to February 20 and would remain in effect until otherwise specified by the regulator. The OSFI meanwhile continues to review the Montreal branch's activities, it said. Texas financier and cricket impresario Allen Stanford Allen Stanford[1], [2] is an American billionaire and philanthropist, and is well known as a sponsor of professional sports. He was awarded an honorary knighthood in 2006 by the government of Antigua and Barbuda. was charged Tuesday by the US Securities and Exchange Commission with perpetrating "a fraud of shocking magnitude that has spread its tentacles throughout the world." He is accused of lying to investors about the safety and real returns of eight billion dollars in "certificates of deposits" and 1.2 billion dollars in mutual funds. Many of Stanford's operations are now in receivership receivership In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. . Antigua, Peru, Panama, Ecuador, Venezuela and Colombia also have taken action against his banks and Britain has launched a probe of his actions. 
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