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Stocks, files and audio tape

By Shoeshine

Friday 9th May 2003

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The Securities Commission's investigation into l'affaire Malcolm Davidson lumbers on.

Its inquiries are focused on who else, other than whistleblower Brooke Asset Management, had access to the Sky City management information the former UBS Warburg analyst obtained last December.

The commission has reportedly commandeered copies of audio tapes relating to Sky City trading from all brokers and from selected institutions.

It is particularly interested in trading by two fund managers whose identities Shoeshine can't share for obvious legal reasons.

The matter is causing some angst among analysts who wonder whether they're going to be hauled in front of the commission and given the third degree every time they make a good, or lucky, stock call.

The instos reportedly aren't too happy either. Trading is no longer the gentlemanly affair it once was.

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