Asia: Finance and Banking

SEBI has floated a consultation paper dated August 10, 2026, proposing two distinct sets of amendments affecting issuers of privately placed, listed non-convertible debt securities .

In a significant move to deepen foreign participation in India’s sovereign debt market, the Government of India promulgated the Income-tax (Amendment) Ordinance, 2026 on 5 June 20261, introducing a comprehensive tax exemption for eligible foreign investors investing in Government securities. Effective retrospectively from 1 April 2026, the Ordinance exempts specified income arising from Government securities from withholding tax and long-term capital gains tax, thereby addressing one of the principal tax-related barriers to foreign investment in Indian debt markets.

The recent NSW Civ­il and Admin­is­tra­tive Tri­bunal deci­sion in Nichol­son v The Own­ers – Stra­ta Plan No 104042 [2025] NSW­CATCD 202 pro­vides impor­tant...

Herbert Smith Freehills Kramer’s quarterly review of private capital buyouts, fundraising and disputes tells a familiar story for the first half of 2026: subdued on-market play with flashes of brilliance.

A quiet first half for Asia private capital, with both fundraising and buyout activity subdued, and no indication whether a second-half rebound will materialise as in recent years.

RBI's February 13, 2026, amendments to capital market exposure framework, effective from April 1, 2026 (or earlier if adopted by banks), enable Indian banks, for the first time, to finance LBOs/acquisitions up to 75% of deal value, subject to specified conditions.

Senior associate Alfred Jackson examines whether assets held in a specific asset holding company are truly protected from creditors, focusing on the critical role of PPS leases. If a lessor fails to register their security interest properly, leased assets can vest in the lessee's trustee or administrator during insolvency, leaving the lessor as an unsecured creditor attempting to reclaim their own property.

Stamp duty is one of the oldest forms of fiscal legislation in India, yet it remains one of the most frequently underestimated sources of risk in corporate and commercial transactions. Parties tend to focus on the substantive commercial terms, tax implications, and regulatory approvals, relegating stamp duty analysis to the execution stage.

The 2026 IBC amendments have fundamentally altered the dynamics of personal guarantor insolvency proceedings by eliminating automatic interim stays. What was once a powerful tool for promoters to halt recovery actions through a simple filing now requires substantive judicial scrutiny, shifting the balance of power back toward creditors and forcing lenders to reassess their enforcement strategies across multiple forums.

The Securities and Exchange Board of India (SEBI) issued a consultation paper on 23 July 2026 (Consultation Paper). The Consultation Paper proposes a comprehensive review of the SEBI (Portfolio Managers) Regulations, 2020 (PMS Regulations).

The Monetary Authority of Singapore (MAS) announced that the revised framework for Single Family Offices (SFOs), which provides a simple, streamlined process for SFOs to establish operations in Singapore, was brought into force on 15 June. The revised framework creates a straight through class exemption from licensing for all qualifying SFOs operating in Singapore, regardless of structure. SFOs that meet the requirements need only notify MAS of their operations and maintain an account with a MAS-licensed bank. They also have to file an annual return with information on the total assets under management and the name of their bank.

The Lok Sabha has passed the Taxation & Other Laws (Amendment) Bill, 2026 (‘Amendment Bill’). The said Amendment Bill replaces the Income-tax (Amendment) Ordinance, 2026 which was earlier passed on 5 June 2026 and also proposes other amendments to the Income-tax Act, 2025 (‘the Act’), the most notable amendment being in respect of taxation of unitholders and SPVs of business trusts.