SEBI offended by FIIs trading overseas
The Diwali of 2008 seems to be the most difficult Diwali for financial markets in twelve years. Market regulator, Securities and Exchange Board of India (SEBI), however, is doing its bit to make things better. SEBI has gone on the offensive against FIIs who seem to have taken fresh positions post the October 20 deadline. Indeed, the SEBI seems to be monitoring FII data closely.
