TAIWAN
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Futures Firms Get Tentative Go-Ahead: Taipei authorities have given tentative approval to applications from nine foreign futures companies, including some U.S. firms, to set up branch offices in Taiwan. This will remove one of the last major hurdles to legitimize what was once a thriving underground business in the country, analysts said. The foreign companies still need permission from the economics ministry and final approval from the Securities and Exchange Commission before starting business. The nine foreign companies approved will channel orders to overseas futures exchanges from local brokers who last month received permission from the government to set up futures brokerages.
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