Tr?id=566623520170033&ev=PageView&noscript=1

Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

Posted on October 23rd, 2024 at 10:57 AM
Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

From te desk of Jim Eccleston at Eccleston Law

A former Merrill Lynch advisor, John Rollin Revelle, has been suspended for 10 months and fined $7,500 by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized activities, including working for a cryptocurrency exchange and issuing misleading asset verification letters.

According to AdvisorHub, Revelle earned over $29,000 while employed by a start-up cryptocurrency exchange, where he assisted in processing investments. Revelle undertook this role without obtaining permission from Merrill Lynch, thereby violating FINRA’s rules against unauthorized outside business activities.

Additionally, Revelle drafted, signed, and distributed three asset verification letters on Merrill Lynch letterhead without firm authorization.

Those letters contained false statements, including exaggerations of the asset values of the individual they were intended to benefit and incorrectly identifying that person as a Merrill customer.

FINRA determined that these actions violated Rule 2010, which mandates that industry professionals uphold “high standards” of commercial honor. Revelle accepted FINRA’s sanctions without admitting or denying the allegations in what is known as an Acceptance, Waiver and Consent (“AWC”).

 

Eccleston Law LLC represents financial advisors and investors nationwide in securities, employment, transition, regulatory and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I am so glad I found you! Wow! I appreciate your help, concern and guidance.

RB

LATEST NEWS AND ARTICLES

1783012078 Law
July 2, 2026
Financial Services Institute Backs New Jersey Bill Protecting Independent Advisor Model

The Financial Services Institute (FSI) has urged New Jersey lawmakers to advance legislation that would help preserve the independent contractor status of financial advisors operating in the state.

1782920284 Law
July 1, 2026
Private Credit Funds Face Scrutiny Over Software Exposure Amid Investor Concerns

Private credit fund managers are facing increased scrutiny over their exposure to software companies as investors continue to pull money from the sector during ongoing market volatility.

1782836587 Law
June 30, 2026
FINRA Signals Stronger Enforcement Focus on Reg BI, Excessive Trading, and Best Execution

The Financial Industry Regulatory Authority (FINRA) plans to intensify its enforcement efforts against Regulation Best Interest (Reg BI) violations, excessive trading, options trading, churning, and best execution failures after bringing a record number of retail investor protection cases in 2025, according to ThinkAdvisor.