The May 2026 edition of Fox & Mandal's newsletter examines the net settlement mechanism for FPIs; revised registration norms for NBFCs; SEBI’s amended disqualification norms for intermediary; Draft National Water Metro Policy, 2026; FEM (Authorised Persons) Regulations, 2026; proposed alignment of the securitisation framework with RBI norms; and other changes in India's corporate, capital markets, infrastructure, and banking sectors