Case Document Filed Page of EXHIBIT Case Document Filed Page of UNITED STATES DISTRICT COURT vs Case No JPMORGAN CHASE BANK N.A Defendant/Third-Party Plaintiff JPMORGAN CHASE BANK N.A FOR THE SOUTHERN DISTRICT OF NEW YORK Third-Party Plaintiff vs JAMES EDWARD STALEY Third-Party Defendant CONFIDENTIAL PURSUANT TO PROTECTIVE ORDER VIDEOTAPED DEPOSITION OF WILLIAM MARCUS SHERIDAN TAKEN AT Greenbaum Rowe Smith Davis LOCATED AT Livingston Avenue Roseland NJ July a.m to p.m REPORTED BY ANITA KORNBURGER REGISTERED PROFESSIONAL REPORTER Golkow Litigation Services Page GOVERNMENT OF THE UNITED STATES VIRGIN ISLANDS Plaintiff i ial Pursuant to Protective Order Case Document Filed Page of A As sponsor Okay And you reviewed all the DDRs that your bankers were supervising and preparing A Thats correct Okay Got it All right Lets move on to the page ending in You see theres a Roman And when it says The senior manager numeral five it says existing account relationships A Witness nods And then it says It is expected that bankers will stay current with any material changes including noncompliance of the sponsorship criteria and significant non-public client information affecting risk management Subject to consultation with legal and compliance that may effect the clients appropriateness to continue as approving the DDR did you understand that as a a private bank client Do you see that A I do And so do you understand that to mean that the bank the banker has an obligation to stay up to date with news and reports and any other Golkow Litigation Services Page reference to you in your role as a market manager A Yes i ial Pursuant to Protective Order Case Document Filed Page of non-public information that they learn about the private bank Right A to facilitate that process and that from you know that occurring right by providing information client Okay And then the next sentence after that one says Therefore the bankers should update the clients file e.g call memo response to alerts in the event there are material changes to the clients profile and will revise the DDR accordingly when it is required to be updated Do you see that A Yeah And so that just means that if you learned some type of material information then you A Yes And thats again thats need to go back into the DDR and update it and then circulate it around for managerial review right MR CONERY Object to form THE WITNESS Well there I mean there are look there are other components that Golkow Litigation Services Page obviously thats important but its also a very important reliance on the infrastructure of the i ial Pursuant to Protective Order
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