New Delhi: In a major step toward enhancing transparency in India’s financial markets, SEBI has launched the Past Risk and Return Verification Agency (PaRRVA), giving investors access to independently authenticated historical returns of registered market intermediaries. The initiative—developed with the National Stock Exchange of India and CAREEdge Ratings—is the first of its kind globally.

PaRRVA introduces a uniform method for verifying performance claims made by Investment Advisers (IAs), Research Analysts (RAs) and other registered entities. The move aims to tackle the growing issue of unverified or inflated claims circulating widely, particularly from unregistered operators who often influence investor behaviour.

Addressing the launch, SEBI chairman Tuhin Kanta Pandey said, "We are

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