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of <h1>Regulator limits pre-launch certified past performance to one-on-one client requests, mandates PaRRVA enrollment within three months</h1> Regulator permits registered investment advisers and research analysts to provide certified past performance for periods before the launch of the Past Risk and Return Verification Agency (PaRRVA) only on specific client request, on a one-to-one basis, and not via public media or websites; such data must be certified by a member of ICAI/ICMAI, accompanied by a prescribed disclaimer, and issuers must enroll with PaRRVA within three months of its operationalisation or cease such communications thereafter. Post-operational period performance must use PaRRVA-verified metrics, and after two years only PaRRVA-verified metrics may be displayed. Templates will be issued within one month; contraventions attract enforcement, including summary proceedings under intermediary regulations.
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