{"id":10265,"date":"2021-11-09T15:46:52","date_gmt":"2021-11-09T20:46:52","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10265"},"modified":"2021-11-09T15:46:52","modified_gmt":"2021-11-09T20:46:52","slug":"finra-suspends-donatas-belys-vildzius-for-excessive-trading-churning","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-donatas-belys-vildzius-for-excessive-trading-churning\/","title":{"rendered":"FINRA Suspends Donatas Belys Vildzius For Excessive Trading And Churning"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10266 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Donatas-Belys-Vildzius.jpg\" alt=\"Donatas Belys Vildzius (CRD#: 2202883) is a former broker and registered investment advisor whose last known employer was Network 1 Financial Securities Inc. (CRD#:13577) of Danbury, CT. His previous employers include Rockwell Global Capital LLC (CRD#:142485), also of Danbury, Source Capital Group, Inc. (CRD#:36719), of Westport, CT, and Wachovia Securities, LLC (CRD#:19616) of St. Louis, MO. He has been in the industry since 1992.  Vildzius is the subject of twelve disclosures, including two civil judgments from 2012 totaling $9,062 and multiple regulatory sanctions.  The most recent action was initiated by FINRA after Vildzius was found to have churned the accounts of two clients with excess trading. This action occurred between August 2015 and April 2017, when he recommended a short-term trading strategy that involved in-and-out trading. The result of these trades was a high turnover rate and excessive fees. \u00a0  Following Vildzius\u2019 recommendations, the clients both executed the unsuitable trades. This also gave Vildzius de facto control over both customer accounts.  After following Vilzus\u2019 recommendations, the two clients suffered losses totaling $32,240, and paid commissions and fees totaling $33,449.  After signing the Acceptance, Waiver &amp; Consent (AWC) Letter, FINRA fined Vildzius $5,000 and suspended him from any association with any FINRA member firm for six months, beginning 10\/9\/2020.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Donatas-Belys-Vildzius.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/11\/Donatas-Belys-Vildzius-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Donatas Belys Vildzius (<a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/2202883\" target=\"_blank\">CRD#: 2202883<\/a>) is a former broker and registered investment advisor whose last known employer was Network 1 Financial Securities Inc. (CRD#:13577) of Danbury, CT. His previous employers include Rockwell Global Capital LLC (CRD#:142485), also of Danbury, Source Capital Group, Inc. (CRD#:36719), of Westport, CT, and Wachovia Securities, LLC (CRD#:19616) of St. Louis, MO. He has been in the industry since 1992. <a href=\"https:\/\/www.silverlaw.com\/blog\/finra-suspends-donatas-belys-vildzius-for-excessive-trading-churning\/#more-10265\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donatas Belys Vildzius (CRD#: 2202883) is a former broker and registered investment advisor whose last known employer was Network 1 Financial Securities Inc. (CRD#:13577) of Danbury, CT. His previous employers include Rockwell Global Capital LLC (CRD#:142485), also of Danbury, Source Capital Group, Inc. (CRD#:36719), of Westport, CT, and Wachovia Securities, LLC (CRD#:19616) of St. Louis, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[589,580],"tags":[],"class_list":["post-10265","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Suspends Donatas Belys Vildzius For Excessive Trading, Churning<\/title>\n<meta name=\"description\" content=\"Donatas Belys Vildzius is a former broker and investment advisor whose last employer was Network 1 Financial Securities of Danbury, CT.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-donatas-belys-vildzius-for-excessive-trading-churning\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-donatas-belys-vildzius-for-excessive-trading-churning\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"FINRA Suspends Donatas Belys Vildzius For Excessive Trading And 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