First Reports - Nov 20

Layoff/Employment Watch - - -  Cuts at JPMorgan;  Deutsche Bank Cuts in NY, London.   [WHO]

Financial Services Stocks: Where They're Headed - - -  It's midday, the Dow's up around 71 points, but the C-I Top Twenty Index is off 3.3%.  Losers out number winners, 15-to-5, with RBS up 10%, but Citigroup down 21%.  [RULE]

Who's News Quick Takes - - -  Goldman Shares Tumble Below IPO Price;  Citigroup: After a Prince's 'Kiss', Bank is Still a Toad;  Barclays Shares Collapse to 14-Year Low;  BofA-Merrill Deal in Doubt?  Nomura: While Questions Persist over Asian Expansion, Firm Hires NY Bankers.  [WHO]

FINRA Fines & Sanctions for November: Member Firms- - -  Among firms sanctioned this month:   Midas Securities ... Sloan Securities ... Calyon Securities ... Credit Suisse (USA) ... Ferris, Baker Watts ... INTL Trading ... Merrill Lynch, Pierce, Fenner & Smith ... Piper Jaffray ... Raymond James ... Track Data Securities.   Among violations committed this month, related to: Private Placements ... Unregistered Principal Supervising Branch ... Trade Reporting.   [WWW]

SEC Charges Day Traders in Short-Selling Scheme - - -  The SEC filed a civil injunctive action against 2 day-traders, Robert Beardsley and George Lindenberg, who allegedly perpetrated a manipulative short-selling scheme through brokerage accounts at a now defunct B/D, Redwood Trading.  Catch the C-I Take Away.  [WWW]

Mutiny at Wall St. Law Firm - - -  A Wall Street law firm, that had dominated the market in helping to structure complex securitizations and commercial mortgage-backed securities issues, is ousting its managing partner.  [WHO]