BRIAN C. SHEVLAND - Investment Adviser at BLUESTONE CAPITAL MANAGEMENT, LLC

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Detailed ReportReport

BRIAN C. SHEVLAND

CRD#: 4570496

Investment Adviser

Previous Broker

BLUESTONE CAPITAL MANAGEMENT, LLCCRD#: 157841

37 WEST AVE
SUITE 301
WAYNE, PA 19087

Registration History

Disclosure(s)

View By:

2/1/2024

Regulatory

Final

Initiated By

FINRA

Allegations

Without admitting or denying the findings, Shevland consented to the sanctions and to the entry of findings that he made negligent misrepresentations about the performance of two private equity funds (the Funds) to investors. The findings stated that Shevland caused the Funds to invest more than $20 million (including some of his own money) in a separate private equity fund (the Master Fund), which was managed by a former employer of Shevland. The Funds created documents that contained materially inaccurate performance results, which Shevland distributed and directed others at the Funds to distribute to investors on a regular basis. To prepare these documents, the Funds relied on information that Shevland received from the Master Fund, including unaudited financials claiming that the Master Fund earned consistent positive monthly returns and realized an annual rate of return, net of fees, exceeding 80 percent during one year. Shevland failed to act with due care upon learning of material discrepancies in the financial results reported by the Master Fund. In addition, certain of the Master Fund's monthly reports did not accurately reflect the Funds' investment. Shevland did not ask anyone at the Master Fund about these discrepancies or take any other steps to investigate them. Instead, Shevland negligently continued to direct others at the Funds to use the Master Fund's claimed financial results to create documents that he and others distributed to Fund investors. Those documents materially overstated the performance of the Funds. Subsequently, the manager of the Master Fund was arrested and charged with securities fraud in connection with her operation of the Master Fund. The Master Fund is subject to a receivership and losses to investors in the Funds have yet to be ascertained.

Resolution

Acceptance, Waiver & Consent(AWC)

Sanctions

Civil and Administrative Penalty(ies)/Fine(s)

Amount

$10,000.00

Sanctions

Suspension

Registration Capacities Affected

All capacities

Duration

One year

Start Date

3/4/2024

End Date

3/3/2025

License(s)

State Registrations

Massachusetts 10/20/2014

Pennsylvania 2/14/2013

Current Registration(s)

BLUESTONE CAPITAL MANAGEMENT, LLC (CRD#:157841)

37 WEST AVE SUITE 301, WAYNE, PA 19087

Registered with this firm since 2/14/2013

Previous Registration(s)

th hidden text	th hidden text	Name	Location
B	04/08/2014 - 03/04/2024	MCG SECURITIES LLC (CRD#:163144)	WAYNE, PA
B	09/18/2012 - 04/09/2014	CV BROKERAGE, INC (CRD#:462) FINRA expelled the firm on 03/13/2020	WILLIAMSTOWN, NJ
IA	12/14/2004 - 09/20/2012	ROYAL ALLIANCE ASSOCIATES, INC. (CRD#:23131)	MALVERN, PA
B	04/29/2003 - 09/20/2012	ROYAL ALLIANCE ASSOCIATES, INC. (CRD#:23131)	MALVERN, PA
IA	06/28/2011 - 09/19/2012	CPC FINANCIAL PLANNING, INC (CRD#:119150)	KING OF PRUSSIA, PA
IA	05/22/2003 - 08/23/2004	CAPITAL INVESTMENT SERVICES, INC. (CRD#:120357)	CHADDS FORD, PA
B	09/18/2002 - 05/07/2003	NEW ENGLAND SECURITIES (CRD#:615)	NEW YORK, NY

MCG SECURITIES LLC (CRD#:163144)

WAYNE, PA

04/08/2014 - 03/04/2024

CV BROKERAGE, INC (CRD#:462)

FINRA expelled the firm on 03/13/2020

WILLIAMSTOWN, NJ

09/18/2012 - 04/09/2014

ROYAL ALLIANCE ASSOCIATES, INC. (CRD#:23131)

MALVERN, PA

12/14/2004 - 09/20/2012

ROYAL ALLIANCE ASSOCIATES, INC. (CRD#:23131)

MALVERN, PA

04/29/2003 - 09/20/2012

CPC FINANCIAL PLANNING, INC (CRD#:119150)

KING OF PRUSSIA, PA

06/28/2011 - 09/19/2012

CAPITAL INVESTMENT SERVICES, INC. (CRD#:120357)

CHADDS FORD, PA

05/22/2003 - 08/23/2004

NEW ENGLAND SECURITIES (CRD#:615)

NEW YORK, NY

09/18/2002 - 05/07/2003

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Broker

A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.

Investment Adviser

An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.

Disclosures

Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.