Articles Tagged with Network 1 Financial Services Inc.

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On October 9, 2020, FINRA suspended Donatas B. Vildzius from the securities industry for six months and fined him $5,000.  This sanction is the third time Mr. Vildzius has been suspended by FINRA, with previous suspensions in 2006 and 2014.  Donatas Vildzius is a stockbroker and registered representative at Network 1 Financial Securities Inc. in Danbury, CT.

The latest suspension is the result of a FINRA investigation alleging that between August 2015 and April 2017, while employed by Network 1 Financial Services Inc., Vildzius excessively traded the accounts of two customers.

Excessive trading occurs when a financial advisor makes many trades in a customer’s account, not to benefit the customer but to generate commissions for the broker.  Excessive trading is wrong.

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