PaRRVA & the 3 August 2026 date — what it really means
There is no single "last date" to enrol on PaRRVA. The 3 August 2026 date matters only if you want to show CA-certified past performance — those who wish to show PaRRVA-certified performance can enrol anytime. Here's the precise position, with thanks to a fellow RA for the clarification.
Contributed by Mr. Tarun Nagpal ji · Compliancify Consulting — thank you 🙏
Thank you, Tarun ji, for this valuable correction. The wording is subtle, so to keep every RA accurate — there is no single "last date" to enrol on PaRRVA. Here's all you need to know:
- There are two modes of getting past performance — CA-certified (called "certified past performance" — this wording is important) and PaRRVA-certified.
- All data pertaining to the period before 4 May 2026 will be certified only by a CA.
- All data pertaining to the period on or after 4 May 2026 will be through PaRRVA only.
- If you want to show CA-certified past performance, you must enrol with PaRRVA by 3 August 2026 (i.e. today). If you have CA-certified past performance but did not enrol by 3 Aug 2026, you cannot show that performance. Such CA-certified performance can only be shown till 4 May 2028 — provided you enrolled on PaRRVA.
- If you want to show PaRRVA-system performance, you can enrol anytime — there is no mandatory window, because data pertaining to the period after 4 May 2026 must be certified by PaRRVA only.
Bottom line: the 3 August 2026 deadline is only for those who have CA-certified past performance. Those who want to show PaRRVA-certified performance can enrol anytime.
Date: 29 April 2026
Subject: Operationalisation of Past Risk and Return Verification Agency (PaRRVA)
Key dates at a glance
What this means for you
- PaRRVA is the SEBI-recognised agency that verifies past risk & return claims so that whatever performance you show clients is independently certified.
- Enrollment is relevant if you communicate past performance (returns, track record, model-portfolio results) to clients or prospects.
- A transition framework has been provided for communication of historical certified past performance.
- From 4 May 2028, only PaRRVA-verified metrics may be communicated under the SEBI framework.
What to do today
- Want to keep showing CA-certified past performance? Enrol with PaRRVA by today, 3 August 2026 — otherwise that performance can't be shown.
- Only plan to show PaRRVA-certified performance? You can enrol anytime — there's no 3 Aug deadline for you.
- Not sure which applies to you? If in doubt, confirm your position with your compliance advisor.
- Received an official clarification from SEBI, BSE, NSE, BASL or PaRRVA — e.g. an extension, or guidance on non-enrollment consequences? Please share the official communication in our Telegram group so every RA stays informed.
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