The conviction of Sri Lankan-born fund manager Raj Rajaratnam for insider dealing has led to calls for a crackdown on the practice said to be rife in the island’s own stock market, a report said. “Most investors in Sri Lanka trade on inside information,” was how the Sunday Times newspaper headlined a story on insider dealing on the Colombo stock exchange.
Many of the investors in the Sri Lankan stock market trade in shares based on inside information but regulators are scared to take these offenders to task, the newspaper quoted stockbrokers as saying.
