Kurta Law Investigating Rob Vila and Allegations of Misconduct

NEW YORK--(BUSINESS WIRE)--Kurta Law is investigating allegations of misconduct against Rob Vila. Rob Vila allegedly recommended unsuitable investments, executed an excessive number of trades, and engaged in unauthorized trading. This alleged misconduct violates several Financial Industry Regulatory Authority (FINRA) rules.

Investors who lost money due to this type of misconduct may be able to recover their losses with the help of a securities attorney. If you have questions, contact Kurta Law: [phone] or [e-mail].

What is an Unsuitable Investment?

According to FINRA Rule 2111, brokers must only recommend investments that suit investors’ needs. This means that the type of investment – as well as the associated risks – should suit an investor’s level of wealth, tax status, and overall risk tolerance. Investments must also be quantitatively suitable, meaning that the number of trades must fit the investor’s needs. An excessive number of securities transactions incurs expensive trading costs that unfairly cut into an investor’s profit.

What is Unauthorized Trading?

Unauthorized trading occurs when a broker places trades without express authorization from an investor. An investor may approve an account for discretionary trading in writing, and as long as the firm also approves, a broker may execute trades at their discretion. If the investor account has not met these conditions, the broker’s trades are unauthorized and violate FINRA Rule 3260.

Rob Vila: Morgan Stanley

As of November 28, 2022, Rob Vila is registered with Morgan Stanley. Investors should know Morgan Stanley has 162 regulatory disclosures on its record. There are disclosures with allegations similar to those mentioned on Rob Vila’s record, including allegations of unsuitable trading.

Rob Vila: Merrill Lynch

Rob Vila was registered with Merrill Lynch from 1995 to 2022. Merrill Lynch also has 1,468 disclosures on its detailed BrokerCheck record.

About The Kurta Law Firm

The Kurta Law Firm has represented thousands of investors and has recovered over $200 million on their behalf. Our lawyers do not earn a fee unless you win your case—case evaluations with Kurta Law attorneys are free.

Kurta Law Founding partner Jonathan Kurta is a professor at New York Law and a member of Public Investors Arbitration Bar Association (PIABA). He has experience representing brokerage firms and understands their defense strategies. That experience can work to your benefit during FINRA arbitration.