Constance Marie Larsen (CRD #1171750, Centreville, Virginia)
was assessed a deferred fine of $20,000 and suspended by FINRA for two years for allegedly borrowing $16,900 from an elderly client without notifying or receiving pre-approval from her member firm.
FINRA's findings stated that Larsen knew the firm’s written procedures prohibited the loans and she took steps to hide the loans from her firm. Larsen intentionally failed to disclose the loans during her firm’s online annual compliance process and falsely stated to her firm that she had not borrowed funds from clients. As a result of her misrepresentation, her firm maintained false records.
FINRA's findings also stated that Larsen willfully failed to disclose civil judgments totaling $56,320.10 on her Form U4. Larsen was aware of at least two of those judgements but decided not to disclose them until the matters were resolved.
Larsen's suspension is in effect from November 17, 2014, through November 16, 2016.
(FINRA Case #2013038483201)
Constance Marie Larsen was registered in the securities industry for 30 years and was previously registered with the following securities firm:
07/1983 - 10/2013 PRUCO SECURITIES, LLC. (CRD# 5685) - ST. LOUIS PARK, MN
This previous summation was obtained on FINRA's website listed under "Disciplinary and Other Actions, January, 2015" and ends here.
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