Commentary by Jason Schwartz
The U.S. District Court for the Central District of California authorized the IRS to serve a "John Doe" summons on a California-based cryptocurrency prime dealer. The IRS is seeking information about as-yet unidentified U.S. taxpayers who conducted at least $20,000 in cryptocurrency transactions with the dealer.
The SEC approved rule changes to require members to report transactions in U.S. dollar-denominated foreign sovereign debt securities to TRACE.
The SEC appointed Monique C. Winkler as Regional Director of the San Francisco Regional Office and Nicholas P. Grippo as Regional Director of the Philadelphia Regional Office.
FINRA proposed a voluntary three-year pilot program to allow broker-dealers to conduct annual office inspections remotely.
Comments on a FINRA proposal to amend the Code of Arbitration Procedure for Customer Disputes and the Code of Arbitration Procedure for Industry Disputes are due by September 6, 2022.