Law360, New York ( May 7, 2013, 5:40 PM EDT) -- On April 22, 2013, the Financial Industry Regulatory Authority Inc. issued an interpretative letter regarding the use of pre-inception index performance (PIP) data for exchange-traded products (ETPs). The letter formalizes a position with respect to the use of PIP data (sometimes referred to as "hypothetical" or "backtested" index data) in communications with institutional investors.[1]...
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