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SEC charges ex hedge fund boss

Former Wall Street hedge fund manager David Slaine made more than $500,000 from insider trading tips in 2002 by a former UBS Securities executive who is now in prison, the US Securities and Exchange Commission said yesterday. Slaine, 50, formerly of DSJ International Resources, or Chelsey Capital of New York, used the confidential information to trade ahead of UBS analyst recommendations, the SEC said in a civil securities fraud complaint filed in Manhattan federal court.