Finra orders UBS to pay compensation in landmark Lehman ruling
The first Lehman Brothers principal protected note arbitration against a broker in the US has concluded with a positive result for the investor, in what could be a test case for the industry.
The US Financial Industry Regulatory Authority (Finra) has ordered UBS Financial Services to pay Patricia Flanagan, a South Carolina investor, nearly US$200,000 in costs and compensation, after she was sold Lehman Brothers-backed principal protected and return optimisation notes by her UBS broker. The notes
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