EFTA00623746Set 9
2012-10-236p2,970w
Islands Code ("VIC') and replaces Exempt International Banking Facilities ("EIBP)
with International Banking Entities ("IBE"), which will be administered by the Director of Banking and
Insurance of the Office ... below and laid out the specific requirements for an entity to
qualify as an IBE. On behalf of our clients, we met with current Director, John McDonald, to discuss ... mechanics of the application process and the expected regulatory framework that will govern the IBE program.
Although he indicated that he would accept applications for IBEs now, he also indicated
https://www.justice.gov/epstein/files/DataSet%209/EFTA00623746.pdf
EFTA01145740Set 9
2012-10-236p2,974w
Islands Code ("VIC') and replaces Exempt International Banking Facilities ("EIBP)
with International Banking Entities ("IBE"), which will be administered by the Director of Banking and
Insurance of the Office ... below and laid out the specific requirements for an entity to
qualify as an IBE. On behalf of our clients, we met with current Director, John McDonald, to discuss ... mechanics of the application process and the expected regulatory framework that will govern the IBE program.
Although he indicated that he would accept applications for IBEs now, he also indicated
https://www.justice.gov/epstein/files/DataSet%209/EFTA01145740.pdf
EFTA00803845Set 9
2012-10-236p2,970w
Islands Code ("VIC') and replaces Exempt International Banking Facilities ("EIBF")
with International Banking Entities ("IBE"), which will be administered by the Director of Banking and
Insurance of the Office ... mechanics of the application process and the expected regulatory framework that will govern the IBE program.
Although he indicated that he would accept applications for IBEs now, he also indicated ... will continually update you on any
progress on that front.
I. Organization of an IBE
Pursuant to the Act, an IBE may be a person, other than an individual, incorporated
https://www.justice.gov/epstein/files/DataSet%209/EFTA00803845.pdf
EFTA01476303Set 10
2015-11-20252p27,629w
Source: Deutsche Bank, IBES
2007 - 2014 shown below is aggregate net income, 2014 y/y is EPS growth ... Source: Deutsche Bank, IBES
2007 - 2014 shown below is aggregate net income, 2014 y/y is EPS growth ... Financials and Tech
S&P 500 Banks
Source: Deutsche Bank, IBES
DB US Equity Strategy
Dividends
2006
2007
2008
2009
2010
2011
2012
2013
Payout Ratio
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01476303.pdf
EFTA01474964Set 10
2015-10-02168p16,614w
1Q15): 3.3%
Avg: -3.9%
EPS beat during reporting
EPS cut prior to reporting
Source: IBES, Deutsche Bank
Source: IBES, Deutsche Bank
Figure 3: Change in btm-up 3015 EPS since ... Source: IBES, Deutsche Bank
Source: IBES, Deutsche Bank
Page 2
Deutsche Bank Securities Inc.
S&P
ex. Fin
ex. En
ex. Tech ... Industrials ex. Defense
Information Technology
Tech ex. AAPL & GOOG
Materials
Telecommunication Services
Utilities
Source: IBES, Deutsche Bank
1011
9.7%
9.3%
EFTA01474975
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01474964.pdf
EFTA01104787Set 9
2014-12-1911p2,687w
Incentive Benefit Certificate
issued to Financial Strategy Group, Ltd., an International Banking Entity ("IBE")
for calendar year 2015. These certificates are subject to the regulatory and
administrative conditions ... Permit and as noted below:
1. The IBE license is effective on January 1, 2015 until the expiration thereof
which shall be December 31st following the effective date, unless ... renounced pursuant to Regulation 721-1(c).
2. A license to operate an IBE may not be sold, assigned, transferred, pledged,
used as a security or in any other
https://www.justice.gov/epstein/files/DataSet%209/EFTA01104787.pdf
EFTA00869616Set 9
2014-08-272p384w
From: Cecile de Jongh
To: JEE <jeevacation@gmail.com>
Subject: Fwd: IBE Rules and Regs.
Date: Wed, 27 Aug 2014 19:24:36 +0000
FYI
With warm regards,
Cecile
Sent from ... Cecile de Jongh
Subject: FW: IBE Rules and Regs.
From: John McDonald [mallto
Sent: Wednesday, August 27, 2014 1:55 PM
To: John P. delongh Jr.
Subject: RE: IBE Rules ... mailto:
Sent: Wednesday, August 27, 2014 1:53 PM
To: John McDonald
Subject: RE: IBE Rules and Regs.
Please impress upon him.
From: John McDonald Imailto
Sent: Wednesday, August
https://www.justice.gov/epstein/files/DataSet%209/EFTA00869616.pdf
EFTA00143287Set 9
118p92,602w
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https://www.justice.gov/epstein/files/DataSet%209/EFTA00143287.pdf
Executive Summary
Financial Strategy Group, Ltd. (FSG) is an International Banking Entity (IBE) in the St.
Thomas - St. John District, incorporated in the U.S. Virgin Islands and wholly-owned ... participation in the capital of such companies is not distributed directly by the IBE to
domestic persons; and with prior authorization from the Director, provide to other IBEs ... broad tax exemptions similar to those offered to companies through the Economic
Development Authority. IBEs do not take deposits but engage in bank-like activities. To date,
the Division
https://www.justice.gov/epstein/files/DataSet%209/EFTA00809632.pdf