Some of the leading foreign institutional investors (FIIs) are telling clients not to take any new positions in Indian shares till clarity emerges on norms related to the taxation of indirect transfers of assets and General Anti-Avoidance Rule (GAAR) in the Finance Bill. Hong Kong-based Asia Securities Industry and Financial Markets Association (ASIFMA), which has FIIs like Goldman Sachs, Credit Suisse, Bank of America-Merrill Lynch and Morgan Stanley as members, expressed concern in a strongly worded letter to finance minister Pranab Mukhejee on Thursday.