e Bank Holding Company Act of 1956, as amended. U.S. Bank Subsidiaries U.S. Banking Institutions: MSBNA, primarily a wholesale commercial bank, offers consumer margin lending and commercial lending services in addition to deposit products. Certain foreign exchange activities are also conducted in MSBNA. As an Federal Deposit Insurance Corporation (FDIC) insured national bank, MSBNA is subject to supervision, regulation and examination by the Office of the Comptroller of the Currency (OCC). MSPNA offers certain mortgage and other secured lending products primarily for customers of its affiliate retail broker-dealer, Morgan Stanley Smith Barney LLC (MSSB LLC). MS Private Bank also offers certain deposit products, as well as personal trust and prime brokerage custody services. MSPNA is an FDIC-insured national bank whose activities are subject to supervision, regulation and examination by the OCC. Transactions with Affiliates: The company’s U.S. bank subsidiaries are subject to Sections 23A and 23B of the Federal Reserve Act, which impose restrictions on any extensions of credit to, purchase of assets from, and certain other transactions with, any affiliates. Institutional Securities and Global Wealth Management: Broker-Dealer Regulation: The company’s primary U.S. broker-dealer subsidiaries, MS&Co. and MSSB LLC, are registered broker-dealers with the SEC and in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands, and are members of various self-regulatory organizations, including the Financial Industry Regulatory Authority, Inc., and various securities exchanges and clearing organizations. Regulation of Futures Activities and Certain Commodities Activities: As futures commission merchants, MS&Co. and MSSB LLC are subject to net capital requirements of, and their activities are regulated by, the U.S. Commodity Futures Trading Commission and various commodity futures exchanges. The company’s futures and options-on-futures also are regulated by the National Futures Association, a registered futures association, of which MS&Co. and MSSB LLC and certain of their affiliates are members. Derivatives Regulation: Through the Dodd-Frank Act, the company faces a comprehensive U.S. regulatory regime for its activities in certain OTC derivatives. Investment Management: Many of the subsidiaries engaged in the company’s asset management activities are registered as investment advisers with the SEC. Anti-Corruption: The company is subject to applicable anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act, in the jurisdictions in which it operates. Protection of Client Information: Many aspects of the company’s business are subject to legal requirements concerning the use and protection of certain customer information, including those adopted pursuant to the Gramm-Leach-Bliley Act and the Fair and Accurate Credit Transactions Act of 2003 in the U.S., the E.U. Data Protection Directive and various laws in Asia, including the Japanese Personal Information (Protection) Law, the Hong Kong Personal Data (Protection) Ordinance and the Australian Privacy Act. Compensation Practices and Other Regulation: The company’s compensation practices are subject to oversight by the Federal Reserve. The company is subject to the compensation-related provisions of the Dodd-Frank Act, which may impact its compensation practices. History Morgan Stanley was founded in 1935. The company was incorporated under the laws of the state of Delaware in 1981.
New York, NY 10036
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