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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

“SEBI issues Circular on Operationalisation of Past Risk and Return Verification Agency (“PARRVA”)

04-May-2026 | CDSL/OPS/DP/POLCY/2026/297

SEBI has issued Circular regarding Operationalisation of Past Risk and Return Verification Agency (“PaRRVA”) under SEBI Circular No. HO/38/14/(4)2026-MIRSD-POD/I/10557/2026 dated April 29, 2026. Through this circular, SEBI has operationalised the Past Risk and Return Verification Agency (PaRRVA), which will enable Depository Participants (DPs) to verify historical risk and return data for investors in a standardised and streamlined manner. DPs are advised to refer to the circular [see Annexure] for detailed procedures and guidelines. The measure is intended to expedite verification processes, ensure greater consistency in investment assessment, and reduce case-by-case escalations to SEBI.

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