Goldman, UBS, Citi Probed by Taiwan on TSMC Sales, Paper Says

Taiwan’s financial regulator has begun a probe into nine foreign brokerages after domestic investors complained that they sold Taiwan Semiconductor Manufacturing Co. stock while issuing research reports advising to buy the shares, according to a Commercial Times report.

The Financial Supervisory Commission asked the Taiwan Stock Exchange to gather information from the firms, which include Goldman Sachs Group Inc., Citigroup Inc. and UBS Group AG, the Thursday report said. The regulator is trying to ascertain whether the companies had reports on TSMC with “buy” recommendations, while their trading desks sold large amounts of TSMC shares between Dec. 1 and ...