DB Securities Inc. 345 Park Avenue, 10154-0004 New York, NY, USA Tel. Email From: zia Memon Sent: Wednesday, October 10, 2018 7:10 AM To: Coley Jellinghaus Cc: Diana Canter ; Kimberly Hart >; Funda Bozkurt <S> Subject: Re: Butterfly brokerage [C] Coley, May be I don't understand the full picture as described to me. As I recall, account in question is a trust for benefit of employees, has value/net worth of less than $5 mil, and the authorized officer will be authorized by a POA to execute syndicate trades. This POA happens to be a KCP client. How can we qualify this account as a KCP client (Non advised, 50 mil-2111 qualification)? Would appreciate if you can setup a call between you, me, Kim, Funda and may be Igor/Jeff Roth. Thank you. EFTA01399492

Kind regards! Zia Memon, Managing Director/BSO. , cell On Oct 9, 2018, at 5:28 PM, Coley Jellinghaus wrote: Classification: Confidential Hello — Just following up on this. The client has completed the new account paperwork and we are getting ready to open the account (for which we need to assign a CA..). Again, the client's accounts are covered by KCP, but this new account, as described below, is not the same set-up as his other accounts and by definition is not a KCP "type" account. Can the KCP continue to cover him for this account or will we need to assign an ISG ca? Thank you From Stew: "This a trust with several of Epstein's employees as beneficiaries, and him as grantor. He will have trading authority along with the trustee, but the assets are no longer his since the trust is irrevocable. So Zia felt we could not combine with his other assets to get to the KCP standard. Having said that, it's not clear to me that a client needs to be $50mm net worth to trade cash equities and bonds in KCP. Presumably not all of the IPO business meets that threshold, but you would know better. Either way, need to decide and get an account open as soon as we can at this point." EFTA01399493