The White Law Group Reviews FINRA’s Bar of Former UBS Broker Dimitrios Michelis
FINRA has reportedly barred Dimitrios Kosmo Michelis (CRD# 2920152), a broker formerly registered with UBS Financial Services Inc., after he allegedly failed to respond to the regulator’s requests for information. The bar took effect August 10, 2026. Michelis’ FINRA record also shows two customer disputes alleging he sold investments away from his firm while he was registered with UBS. If you invested with Michelis and believe you suffered investment losses, contact our FINRA arbitration attorneys today for a free consultation.
The White Law Group is investigating potential claims on behalf of investors who worked with Michelis and UBS Financial Services.
FINRA Bars Dimitrios Michelis After Failure to Cooperate
According to FINRA, Michelis failed to respond to the regulator’s requests for information. Under FINRA Rule 9552(h), FINRA issued a Notice of Suspension dated May 6, 2026, followed by a Suspension from Association letter dated June 1, 2026. Because Michelis did not request termination of his suspension within three months, he was automatically barred from associating with any FINRA member firm, in all capacities, effective August 10, 2026. The bar is permanent.
Customer Disputes Allege Selling Away While Registered With UBS
Michelis’s record shows two customer disputes for allegations that he sold investments to the customer outside of the products and accounts approved by his firm, while he was registered with UBS Financial Services. The attorney further alleges Michelis misrepresented the investments as safe, legitimate, and income-producing, told the customer they carried minimal risk, and promised specified interest payments, and alleges the investments were unsuitable, conflicted, and harmful.
- Dispute filed 8/15/2025, covering a time frame of May 1, 2012 through August 15, 2025, with damages requested of $3,790,000
- Dispute filed 8/15/2025, covering a time frame of July 1, 2016 through August 15, 2025, with damages requested of $2,016,098
Because these are allegations that were denied rather than proven, The White Law Group is not asserting the underlying facts as established.
Dimitrios Michelis’s Employment and Registration History
Michelis has 28 years of industry experience and was registered with seven firms over his career. He is no longer registered as a broker or investment adviser with any firm. His registration history includes:
- UBS Financial Services Inc. (CRD# 8174), New York, NY, June 2011 to September 2025
- J.P. Morgan Securities LLC (CRD# 79), New York, NY, September 2004 to June 2011
Michelis was also previously registered as an investment adviser.
UBS and its Duty to Supervise Dimitrios Michelis
Broker-dealers like UBS are required to reasonably supervise their registered representatives, including monitoring for red flags of selling away, such as unusual account activity, customer complaints, or outside business dealings. When a firm fails to catch or act on those warning signs, it can be held liable for failing to supervise, even if it did not know about or approve the specific transactions at issue.
Recovering Investment Losses Tied to Dimitrios Michelis
Investors who believe they lost money due to Michelis’s alleged conduct while he was registered with UBS may be able to recover those losses through FINRA arbitration. UBS can potentially be held responsible for failing to supervise Michelis, even for conduct that occurred away from the firm.
Contact The White Law Group
The White Law Group is a national securities fraud attorneys with offices in Chicago and Seattle. If you have concerns about investments you made with Dimitrios Michelis, call us today at (888) 637-5510 for a free consultation, or contact us online. You can also learn more about the process on our FINRA arbitration attorney page.
Frequently Asked Questions (FAQs)
1. How do I file a claim to recover money I invested with Dimitrios Michelis?
Most brokerage account agreements typically contain a pre-dispute arbitration clause, so claims against a broker like Michelis are generally filed and resolved through FINRA arbitration rather than in court. Arbitration can still result in a monetary recovery, and an attorney can help evaluate whether you have a claim.
2. What is “selling away,” and why does it matter for my investment?
Selling away happens when a broker sells an investment to a client outside the products and accounts approved by his firm, without the firm’s knowledge. It matters because these investments often bypass the firm’s due diligence and suitability review, which increases the risk of fraud or unsuitable recommendations.
3. Can UBS be held responsible for my losses if it didn’t know about the investment?
Yes, potentially. Firms have a duty to supervise their brokers, and a firm can be held liable for failing to detect or prevent misconduct like selling away, even if it did not know about the specific transaction.
