UBS Financial Services Inc. is on the hook to pay $2.2 million in the largest settlement to date related to Lehman Brothers-associated investment products it once sold.

The new Dec. 20 ruling from the Financial Industry Regulatory Authority follows a spate of litigation for UBS in recent years in connection with the Lehman Brothers-associated structured investment products. Those included principal protected notes, or a group of securities marketed as having a capped return in exchange for curbing potential effects of market volatility.

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