Regulatory News Wrap for Asia

Friday, 2026-09-25 · covering the last 24h

India

SEBI

SEBI board overhauls PMS rules and widens FPI access to commodity derivatives. At its 24 September meeting, SEBI's board approved new Portfolio Managers Regulations, 2026, replacing the 2020 framework: PMS managers can now invest client assets in IPOs, primary-market debt issuances and up to 10% of AUM in unlisted investment-grade NCDs and overseas securities, alongside a new low-cost route ("PRIM") for routing client money through mutual funds. The board separately widened FPI participation in exchange-traded commodity derivatives to non-agricultural index derivatives and physically-settled non-agri contracts, with FPIs required to exit positions before any delivery obligation arises (a T-3 safeguard). Business Standard

Board also clears new settlement-proceedings rules and a common advertisement code. New Settlement of Administrative and Civil Proceedings Regulations, 2026 replace the 2018 framework, adding a fast-track route for cases under ₹10 lakh, extending the filing window from 60 to 90 days, and permitting settlement of cases pending before SAT or the Supreme Court. A new Common Advertisement Code for regulated intermediaries replaces mandatory pre-approval with post-issue reporting within 24 hours, and allows celebrity brand endorsements while continuing to bar product-specific celebrity endorsements. Business Standard

REIT/InvIT governance and cross-border capital-raising rules revised. The board cut the voting threshold for certain REIT/InvIT unitholder approvals to 75% of votes cast rather than 75% of all outstanding units, and cleared a framework letting REITs and listed InvITs issue depository receipts against their units on permissible overseas exchanges (Indian residents and NRIs are not eligible to hold these DRs) to widen access to foreign capital. The Print

Exchanges (NSE/BSE)

No material NSE or BSE circulars this window beyond routine settlement-calendar and corporate-action notices.

RBI, IFSCA & other

No new FEMA/FPI, settlement or payment-system rule-making circulars from RBI, and nothing from IFSCA, this window.

Rest of Asia — Developed Markets

A quiet window for Japan (JFSA, JPX/TSE, BoJ), Hong Kong (SFC, HKEX, HKMA), Singapore (MAS, SGX RegCo), Australia (ASIC, ASX, RBA) and New Zealand (FMA, NZX, RBNZ) — no material new regulatory or market-structure announcements beyond items already covered in recent editions.

Rest of Asia — Emerging Markets

Also quiet: no new circulars, board decisions or central-bank rulemaking from China (CSRC, SSE/SZSE, Stock Connect, PBoC), South Korea (FSC/FSS, KRX, BoK), Taiwan (FSC, TWSE/TPEx, CBC), Thailand (SEC, SET, BoT), Indonesia (OJK, IDX, BI), Malaysia (SC, Bursa, BNM) or the Philippines (SEC, PSE, BSP) this window.

Informational only — summaries of public regulatory and central bank sources; not advice.