Capital markets regulator Securities and Exchange Board of India (SEBI) has announced setting up of a performance validating agency called Past Risk and Return Verification Agency (PaRRVA).
PaRRVA shall carry out the verification of risk-return metrics for Investment Advisors (IAs), Research Analysts (RAs) and Algorithmic Trading, and those persons permitted by the Board to offer these services.
It means, Research analysts (RAs), investment advisors (IAs) and algo providers can seek verification from this agency.
It will verify the risk-return metrics in respect of services of such persons or their agents. A Credit Rating Agency (CRA) shall act as PaRRVA with a recognized stock exchange serving as PaRRVA Data Centre (PDC).
