Lawrence E Hagedorn of Andover Kansas is a former registered representative of The O.N. Equity Sales Company who has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Hagedorn failed to provide FINRA with a response to its request for Hagedorn’s information. Case No. 201705565410 (Nov. 22 2017).
Hagedorn reportedly received a Notice of Suspension on November 22, 2017, stating that he would be suspended on December 18, 2017. The Notice also indicated that Hagedorn must provide FINRA with the information requested of him by February 26, 2018, otherwise he is expected to be barred by FINRA in all capacities.
FINRA Public Disclosure confirms that Hagedorn has been referenced in three customer initiated investment related disputes containing accusations of his misconduct while employed with The O.N. Equity Sales Company, Ascend Financial Services and Securian Financial Services, Inc. In particular, on January 30, 2001, a customer initiated investment related written complaint involving Hagedorn’s conduct was settled for $7,200.00 in damages supported by allegations that Hagedorn made unsuitable investment recommendations to the customer by advising the customer to utilize funds from the customer’s individual retirement account to fund a variable life insurance policy.
Thereafter, on April 28, 2005, a customer initiated investment related written complaint regarding Hagedorn’s activities was resolved to settle accusations that Hagedorn failed to timely rescind the customer’s variable annuity policy, causing the customer to incur surrender penalties. Afterward, on January 4, 2018, a customer filed an investment related written complaint pertaining to Hagedorn’s conduct, where the customer sought $10,000.00 in damages founded on allegations that Hagedorn borrowed funds from a customer by accessing the customer’s life insurance policy cash value, where he then failed to repay the money to the customer.
Hagedorn was fired by The O.N. Equity Sales Company on September 20, 2017, based upon allegations that he committed violations of the firm’s policies by entering into unauthorized loan arrangements with a firm’s customer.
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