A research entity advertises “20% annualised returns” by selectively showing only profitable years of its strategy. ​ Which SEBI initiative is specifically designed to counter this practice?​

SEBI’s PaRRVA (Past Risk and Return Verification Agency), launched in late 2025, is a, new, independent, technology-driven framework designed to verify and authenticate the past performance claims of SEBI-registered intermediaries (like Investment Advisors and Research Analysts).   It aims to curb the mis-selling of financial products by ensuring, standardized, credible, and transparent, data. PaRRVA eliminates selective disclosure and survivorship bias by verified return reporting.   A SEBI-registered Credit Rating Agency (CRA) will function as the, PaRRVA.