First Reports - June 2

Look Who's Talking - Recent Speeches (Thru 5.28.08)

Compliance-Insights' Linked Directory of speeches by FINRA's Mary Schapiro, SEC's Christopher Cox and other key regulatory officials.  [RULE]

WWW Quick Takes

NFA Sting Catches Introducing Broker;  10 Years for Former Credit Suisse Banker;  .   [WWW]

Rule News Quick Takes

SIFMA, MSRB, DTCC:  June Seminars in Dallas, Chicago, NYC for NIIDS Testing/Implementation;  ICE to Give Regulators Data About Energy Traders;  SEC: U.S./Canada Mutual Recognition Process Agreement;  NYSE Expands Definition of "Routing Broker;"  Nasdaq Updates Select Market Maker Program Criteria;  SEC Proposed Rule on Interactive Data.   [RULE]

Wachovia Shakes Up Senior Management

G. Kennedy Thompson, who developed a reputation as an expert at integrating acquisitions, was ousted as Wachovia Chief Executive.  Over the past year, Wachovia has made expensive acquisitions, including the $6.7bn purchase of A.G. Edwards.  [RULE]

Who's News Quick Takes

Nymex-CME Merger Delayed;  Street Street Reports Data Theft;  Deutsche Bank Consider New Bonus System;  CIBC Reports Q2 Results.   [WHO]

Web CRD and IARD - Release 2008.2

Changes to Web CRD and IARD will be implemented on June 23, 2008 in a new software release.  Member-link provided.  [RULE]

Broker-Dealer Registration Update

Winston & Strawn prepared a helpful briefing on the recently-updated SEC Guide to Broker-Dealer Registration.  [BTN]

Market's Down Nearly 200 Points

Two key economic reports indicated today that the economy is still struggling, and 2 financial institutions are rearranging their executive suites.  [RULE]

CBOE Monthly Disciplinary Action

Chicago Board Options Exchange reported on 5/22 that it had levied fines and sanctions against 10 market-making firms, including Susquehanna and Citigroup.  [WWW]

Ricciardi to Leave SEC

SEC Deputy Director of Enforcement Walter Ricciardi will leave the SEC this month and join Paul, Weiss, Rifkind, Wharton & Garrison as a partner in the New York office.  [WHO]

Ex-UBS Banker to Plead Guilty, Cooperate with Tax Fraud Case

A former executive at UBS AG agreed to plead guilty to tax fraud and to cooperate in the Justice Department investigation into tax evasion by wealthy Americans.  How far probe will probe implicate UBS?  [WHO]