EFTA01460815.pdf

Classification: Confidential Cheryl, With all due respect this has always been our account and earlier in the year I told you that Liz was going to pursue the account and if the need arose where you could be of help we would happily include you. Liz and I went to Marc's office just a few months ago and have had an ongoing dialogue with him as well and we were caught completely off guard when we reamed that you were speaking with him about doing a trade in our account.. I was very surprised to learn that IPO paperwork was signed unbeknownst to us for an account domiciled in the branch. While partnership is encouraged it is not at the expense of confidentiality and trade supervision. I am concerned about how this progressed and would like to sit down with you and Michael to make sure that this doesn't happen again. Kind regards, Jim James Layden Regional Executive I Managing Director DB Securities Inc Deutsche Asset 8 Wealth Management 2000 Avenue or the Stars. Suite 910-n, 90087 Los Angeles, CA, USA Deutsche Asset 8 Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or any of its subsidiaries. Clients will be provided Deutsche Asset & Wealth Management products or services by one or more legal entities that will be identified to clients pursuant to the contracts, agreements, offering materials or other documentation relevant to such products or services. This communication may contain confidential arWor privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying. disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. Securities offered through DM Investments Distributors. Inc. From. Date 09/1812014 02:28 PM Subject. Update [C) Classification: Confidential All, Marc Schwartz, head of the Broad Family Office, called me a bit ago as a result of a phone call from PCS (see below). Liz had raised concerns to him about our intemal politics. He asked me if it was "OK to have called me for the trade". You see, I had always told him that we could place the trade in the existing account and never had shared that it was a PCS account that would need to be moved, who would get "credit", or any of these internal battles. Prior to Liz's call, he just assumed we were one happy family. I reassured him that he need not concern himself with our internal CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 122366 CONFIDENTIAL SDNY_GM_00268550 EFTA01460815