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February 1, 1993 | From Times Staff and Wire Reports
Foreign Stock Investors Approved: The Taiwan government has given final approval to applications by Morgan Guaranty Trust of New York and United Overseas Bank of Singapore to invest in the stock market, the Securities and Exchange Commission said. Morgan will be allowed to invest $50 million in local stocks, and United Overseas has approval to purchase $15 million, the SEC said. Taiwan opened its stock market to direct investment by foreign financial institutions in late 1990.
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BUSINESS
February 1, 1993 | From Times Staff and Wire Reports
Foreign Stock Investors Approved: The Taiwan government has given final approval to applications by Morgan Guaranty Trust of New York and United Overseas Bank of Singapore to invest in the stock market, the Securities and Exchange Commission said. Morgan will be allowed to invest $50 million in local stocks, and United Overseas has approval to purchase $15 million, the SEC said. Taiwan opened its stock market to direct investment by foreign financial institutions in late 1990.
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BUSINESS
May 11, 2004 | From Associated Press
The Federal Reserve on Monday fined Switzerland's largest bank, UBS, $100 million for allegedly sending dollars to Cuba, Libya, Iran and Yugoslavia in violation of U.S. sanctions against those countries. UBS operated a trading center for dollars in its Zurich headquarters under contract with the Federal Reserve of New York, to help the circulation of new U.S. notes and the retirement of old ones.
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