FINRA awards US investor in Lehman notes $200,000

CHICAGO Dec 5 (Reuters) - A Financial Industry Regulation Authority arbitration panel awarded about $200,000 to an investor who claimed that her UBS Financial Services (UBSN.VX) (UBS.N) broker sold her risky Lehman Brothers notes.

The investor, whose name is Patricia Flanagan, had been seeking $300,000 in damages, according to a copy of the panel's decision.

The case is one of the first involving Lehman, which went bankrupt in September 2008, heard by FINRA, which polices brokerages and is funded by the industry.

A lawyer for Flanagan told the Wall Street Journal that he represents a dozen clients in similar situations.

UBS had denied Flanagan's allegations and asked that FINRA dismiss the claims. (Reporting by Mark Weinraub; Editing by Eric Walsh)