Stock Performance Display - Allowed- All you need to know - FAQs

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SEBI has issued a press release (vide PR No. 62/2025) in which board has approved some of the proposals mentioned in the consultation paper which was released on 7th Aug 25.

The Proposals were under initiative of "Ease of Doing Business for Investment Advisers and

Research Analysts"

One of the key proposal of consultation paper which is related to permitting IAs and RAs to provide past performance to clients - It has been approved by SEBI.

Now IAs and RAs can share the past performance with their clients including prospective after getting it validated from a Chartered Accountant or Cost Accountant.

What is the scope of validated past performance (VPP) display?

The validated past performance (VPP) can be shared only with existing and prospective client on one to one basis. Means you can only share the VPP with existing clients or prospective clients in case they ask for it or want to see past performance.

Can IA / RA display validated past performance on public platform?

No, VPP can only be shared with clients on one to one basis. VPP is not allowed to be shared on public platforms or social platforms including website or mobile applications.

Who will validate Past Performance ?

A Chartered Accountant or Cost Accountant can validate the past performance after checking required documents and data.

Will IA / RA get the certificate of validation?

Yes, there will be a template which will be issued by ISF and after analyzing and verification of supporting document & data, it will be certified by CA/CWA bearing a UDIN number.

Compliancify Consulting will be taking the requests/ Assignments related to validation of past performance of Research Analysts and Investment advisers. Our team of Chartered Accountants are ready with the methodology and internal calculation templates. You can get in touch on our mail id to book a consultation to know more.