Enrique Vila (CRD #3113492) Has a Regulatory Event, Termination, and Customer Disputes on FINRA BrokerCheck

Enrique Vila (CRD #3113492) is a broker and investment adviser representative with disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 8, 2026. It reflects one regulatory event, one employment termination, and two customer disputes. If you invested with Enrique Vila and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Enrique Vila’s FINRA BrokerCheck Report reflects one regulatory event reported by FINRA. A summary of the action is below. You can also review the AWC (PDF).

According to Enrique Vila’s FINRA BrokerCheck Report, FINRA initiated the matter on October 8, 2012. It states that Enrique Vila exercised discretion in a customer’s non-discretionary account without written authorization from the customer. It also states the account was not accepted as discretionary by the member firm. FINRA reported sanctions that included a 15-business-day suspension from November 5, 2012 through November 26, 2012 and a $5,000 fine.

Employment Separation After Allegations

Enrique Vila’s FINRA BrokerCheck Report reflects one employment separation after allegations. A summary is below:

Enrique Vila’s FINRA BrokerCheck Report states that Merrill Lynch, Pierce, Fenner & Smith Incorporated discharged Enrique Vila on January 18, 2012. The allegation states conduct involving exercising discretion in a non-discretionary client account. The product type listed is debt—corporate.

Investor Disputes / Customer Complaints

Enrique Vila’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries of both disputes are below:

On December 5, 2011, a customer alleged that Enrique Vila placed unauthorized trades in the customer’s account, leading to losses. The dispute was reported as settled for $167,093.32. Enrique Vila’s FINRA BrokerCheck Report lists the product as equity listed (common and preferred stock).

On December 18, 2025, a customer alleged, among other things, that Enrique Vila failed to follow instructions related to purchases of LATAM Airlines shares in 2022. The matter is pending. Enrique Vila’s FINRA BrokerCheck Report lists the product as equity—foreign, and it states the alleged damages amount is unspecified.

Rule Summary #1: FINRA Rule 3260 (Discretionary Accounts)

FINRA Rule 3260 (Discretionary Accounts) restricts discretionary trading. It requires written authorization from the customer and approval by the firm before a broker can trade with discretion. Disputes involving unauthorized trades can raise questions about whether that authority existed and how the account was supervised.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) is a broad conduct rule. It requires firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade. Customer complaints about unauthorized trading or failure to follow instructions can implicate these standards.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Enrique Vila:

Is currently registered with Bulltick, LLC and Bulltick Wealth Management, LLC.

Has passed the Securities Industry Essentials (SIE) exam. Enrique Vila has also passed Series 7 and Series 66.

Was previously registered with firms that include Morgan Stanley and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Kurta Law Can Help

If you have worked with Enrique Vila and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unauthorized Trading | Failure to Execute

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.