Securities and Exchange Board of India (SEBI) launches PaRRVA to validate intermediary return claims.

Key facts

• SEBI introduces PaRRVA, an independent verification mechanism for historical performance claims of Investment Advisors and Research Analysts.
• PaRRVA is launched in partnership with the National Stock Exchange of India and CAREEdge Ratings.
• Current regulations prohibit SEBI-registered intermediaries from showcasing past performance, even when legitimate.
• SEBI’s investor survey shows only 36 per cent of investors possess adequate market knowledge.
• PaRRVA positions India as the first country to establish an independent agency for validating return claims, setting a global benchmark.