Brian C. Shevland (CRD #4570496, Palmas Del Mar, Puerto Rico)

February 1, 2024 – An AWC was issued in which Shevland was fined $10,000 and suspended from association with any FINRA member in all capacities for one year. 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 that 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 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. The suspension is in effect from March 4, 2024, through March 3, 2025. (FINRA Case #2019062544201) If you have suffered losses as a result of Brian C. Shevland's act and/or actions we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Brian C. Shevland. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.