Regulatory News Wrap for Asia

Friday, 2026-10-23 · covering the last 24h

India

SEBI

SEBI waives margin on positions covered by Early Pay-In value. Where a client has a net sell obligation in a settlement and the Early Pay-In (EPI) request for the sold securities is accepted by the clearing corporation, the CC must now, in real time, stop collecting margin from the trading/clearing member on the client's subsequent buy/sell positions up to the value of that accepted EPI. The value available is the lower of the EPI done or the securities-sold value; if the client squares off the underlying sale, the EPI value is withdrawn and any resulting margin shortfall is blocked from the member's proprietary collateral (trade-for-trade securities are excluded, as they settle gross). CCs must amend their bye-laws and systems accordingly. Effective four months from issuance. Circular

SEBI eases call-recording requirement for research analysts' institutional clients. (8 October, carried late — only disseminated by exchanges this window.) The Securities and Exchange Board of India (Research Analysts) (Amendment) Regulations, 2026 (SEBI/LAD-NRO/GN/2026/321) amend Regulation 25(1) of the 2014 Research Analyst Regulations to relax record-keeping for communications with institutional clients, who must now be tracked separately from other clients for this purpose. Effective 30 days after Gazette publication. Regulation

No other new SEBI circulars, press releases or consultation papers this window; the RSS feed's remaining items were recovery-proceedings and adjudication orders.

Exchanges (NSE/BSE)

BSE Indices widens IPO fast-tracking. BSE Index Services changed the eligibility test for immediate ("fast-track") inclusion of large IPOs in BSE's broad/market-cap indices (excluding BSE AllCap): a newly listed company must now rank among the top 30 constituents by the relevant index's construction criteria, rather than the top 10 — a looser test, so more large IPOs qualify for immediate inclusion. DVR-inclusive IPOs still need a minimum one-month listing history alongside the other eligibility criteria. Effective 23 October 2026. Notice

Otherwise routine: NSE's final empanelment of one previously provisional algo-trading vendor, the regular ASM/ST-ASM/ESM and GSM surveillance lists, Diwali Muhurat Trading session timings, listing/IPO housekeeping and mutual-fund NFO notices — nothing else in algo trading, colocation, F&O framework, tick sizes, circuit limits or block/bulk deal rules.

RBI, IFSCA & other

No new FEMA/FPI, settlement or payment-system rule-making from RBI as rule-maker this window (notifications feed current only through 19 October, and limited to bank capital-adequacy and AML directions outside capital-markets scope; press releases were routine liquidity operations and a Monetary Policy Committee minutes release, both out of scope). Nothing from IFSCA.

Rest of Asia — Developed Markets

Checked individually via feeds and dated searches this window and quiet for Japan (JFSA, JPX/TSE, BoJ), Hong Kong (SFC, HKEX, HKMA), Singapore (MAS, SGX RegCo — search-only), Australia (ASIC, ASX, RBA) and New Zealand (FMA, NZX, RBNZ) — no new circulars, rule changes or consultations beyond items already reported in prior editions (HKEX's T+1 settlement consultation conclusions, ASIC's Consultation Paper 392 on digital-asset platforms, SGX's board-lot-size reduction), with no update to any of them since. HKEX's reminder that its 9-times-to-5-times order-deviation threshold goes live 2 November was previously reported in August and is not a new item.

Rest of Asia — Emerging Markets

Checked individually via feeds and dated searches this window and quiet for 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) and the Philippines (SEC, PSE, BSP) — no new rule-making surfaced beyond already-reported items in effect (Korea's FSC tokenised-securities draft rules, Thailand's SEC crypto-asset ETF framework effective 16 October, Indonesia's OJK/IDX demutualisation regulation, Taiwan FSC's foreign-securities scope notice and its 20 October virtual-asset AML amendment). KRX's own board-notice system was unreachable directly and was cross-checked via search instead, with nothing material found.

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