<table><tr><th>From: </th><th></th></tr><tr><td>Sent:</td><td>Thursday, April 7, 2016 1:14 AM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

Lux regulator gets every yr from every bk the list of " political=y exposed clients " . KAQ was obviously one

Ariane de Rothschild

On 07 Apr 2016, at 02:15, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gmai..com» wrote:

the structure having compliance report to the ceo&nb=p; is one of the major issues . since he was dirty, = core problem. how did the lux bank regulator appr=ve

On Wed, Apr 6, 2016 at 5:22 PM, ader@aderfam.ch <ader@aderfam.ch <mailto:ader@aderfam.ch= target=» wrote:

In any case, impossible to leave bk s internal organisation as is . Wi=l need to reorg & strengthen legal&compliance out of Gva hea=quarters ( likely have one head of legal and one of compliance) and not Io=ally in lux . Also review audit committee who went along and never questioned client=and funds provenance And I m conscious i II get the heat for this ( knowing B demanded that=i make sure not to "unsettle Marc ")

Ariane de Rothschild

On 05 Apr 2016, at 17:19, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gmai..com» wrote:

little intl attention. lux a=thorities will be very unhappy as well as internal people. . G= SLOW< all decision should be run by kathy , &nb=p; pr , can come back to bite you , if not very careful

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