Asia Reg & Microstructure Wrap
Friday, 2026-07-24 · covering the last ~24 hours
India
SEBI
SEBI proposes shifting investor dispute administration from ODR institutions to exchanges and depositories, aiming to cut resolution timelines by three weeks. A consultation paper published today would transfer responsibility for the Online Dispute Resolution (ODR) mechanism from empanelled ODR institutions to Market Infrastructure Institutions — stock exchanges and depositories — which would run the workflow end-to-end while keeping it fully technology-driven. It also revises how arbitrators and conciliators are appointed (parties would submit ranked preferences from a panel) and would route unresolved SCORES complaints straight to conciliation, which SEBI estimates could shorten the overall process by 21 days. Separately, it proposes letting AIF investors rely on pre-agreed contractual dispute mechanisms instead of mandatory ODR, and would extend protections currently available to trust-structured AIF investors to those investing via companies or LLPs. SEBI's own consultation paper was not yet locatable in the public reports index at time of writing. Business Standard
No other new SEBI circulars or press releases on trading, derivatives or settlement mechanics in this window.
Exchanges (NSE/BSE)
No material new NSE or BSE circulars in this window beyond routine settlement-calendar, new-listing and stock-specific surveillance (ASM/ESM/GSM) notices — nothing bearing on trading structure, derivatives, or settlement mechanics.
RBI, IFSCA & other
No material RBI items specific to equity markets or FPIs this window. No new IFSCA circulars or consultation papers bearing on equities; its GIFT City direct-listing framework and unique-KYC-ID proposal remain the open items in the pipeline.
Rest of Asia — Developed Markets
Hong Kong: HKEX added Bursa Malaysia as a Recognised Stock Exchange, letting companies with a primary listing on Bursa Malaysia's Main Market apply for a secondary listing in Hong Kong. It is the 21st exchange across 19 countries recognised by HKEX and follows the HKEX–Bursa Malaysia MOU signed earlier this year. HKEX release via MarketScreener
A quiet window otherwise: no material new regulatory or market-structure announcements from Japan (JFSA, JPX/TSE), Singapore (MAS, SGX RegCo), Australia (ASIC, ASX) or New Zealand (FMA, NZX) beyond items already covered in prior editions and routine notices.
Rest of Asia — Emerging Markets
South Korea: The FSC issued a preliminary notice of amendments to the Enforcement Decree of the Financial Investment Services and Capital Markets Act to sharpen unfair-trading enforcement. The changes would let KRX move market surveillance from an account-based to an individual-investor basis by allowing pseudonymised use of investors' personal data, and would raise penalty-surcharge standards to 100–200% of unfairly gained profits for insider trading, manipulation and unfair transactions (100–150% for market-disrupting activity). FSC press release
Elsewhere, a quiet window: no new circulars or structural rule changes from China (CSRC, SSE/SZSE, Stock Connect), Taiwan (FSC, TWSE/TPEx), Thailand (SEC, SET), Indonesia (OJK, IDX), Malaysia (SC, Bursa) or the Philippines (SEC, PSE) beyond items already covered in prior editions.
Industry & broker notes
Nothing distinct from freely available broker/industry commentary this window beyond the items above.
Informational only — summaries of public regulatory sources; not advice.