Markets regulator Sebi on Monday extended the deadline for investment advisers and research analysts to enrol with the Past Risk and Return Verification Agency (PaRRVA) by a month to September 3, 2026.
The earlier deadline for enrolment was August 3, 2026.
The extension follows representations from industry participants and PaRRVA seeking more time for enrolment, the Securities and Exchange Board of India (Sebi) said in a circular.
"After due consideration, Sebi has decided to extend the timeline until September 03, 2026, with the objective of facilitating a smooth and seamless implementation of the framework," the regulator said.
PaRRVA became operational on May 4 this year.
Under Sebi's framework, investment advisers (IAs) and research analysts (RAs) wishing to communicate certified past performance data to existing or prospective clients are required to enrol with PaRRVA.
In October 2025, Sebi had stipulated that IAs and RAs seeking to communicate such performance data must enrol with PaRRVA within three months of its operationalisation.
Those failing to enrol within the prescribed period would not be permitted to communicate certified past performance data to clients.
Subsequently, in April, the regulator set August 3 as the deadline for enrolment following the operationalisation of PaRRVA from May 4.
The latest circular has now extended this deadline to September 3.
