FINRA has fined UBS Financial Services $2.5 million and ordered it to pay $8.25 million in restitution for conduct related to the sale of Lehman Brothers Holdings principal protection notes.

The fine and restitution are tied to the alleged misleading of investors that took place in the sale of the principal protection notes, or PPNs, before Lehman Brothers’ September 2008 bankruptcy filing. The PPNs promised a minimum return equal to an investor’s original investment, FINRA said, and were structured as fixed-income security structured products including bonds and options.

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