# EDGAR Filing Document

**Accession Number:** 0000924186
**File Stem:** 0000895421-23-000278
**Filing Date:** 2023-2
**Character Count:** 141052
**Document Hash:** 19ae7b7cf55dcecbe56e7a49839d2d79
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000895421-23-000278.hdr.sgml**: 20230216

**ACCESSION NUMBER**: 0000895421-23-000278

**CONFORMED SUBMISSION TYPE**: SBSE-A/A

**PUBLIC DOCUMENT COUNT**: 7

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230216

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MORGAN STANLEY & CO INTERNATIONAL PLC
- **CENTRAL INDEX KEY:** 0000924186
- **IRS NUMBER:** 980196143

**FILING VALUES:**
- **FORM TYPE:** SBSE-A/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 026-00167
- **FILM NUMBER:** 23637941

**BUSINESS ADDRESS:**
- **STREET 1:** 25 CABOT SQUARE CANARY WHARF
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** E144QA
- **BUSINESS PHONE:** 44 207 425 8000

**MAIL ADDRESS:**
- **STREET 1:** 25 CABOT SQUARE CANARY WHARF
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** E144QA

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGAN STANLEY & CO INTERNATIONAL LTD
- **DATE OF NAME CHANGE:** 19940527

### Attached PDF Documents

**Attachment 1:** `msip7rfinal.pdf`

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 1

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

# Instructions

READ THESE INSTRUCTIONS CAREFULLY BEFORE COMPLETING OR REVIEWING THE APPLICATION. THE FAILURE TO ANSWER ALL QUESTIONS COMPLETELY AND ACCURATELY OR THE OMISSION OF REQUIRED INFORMATION MAY RESULT IN THE DENIAL OR REVOCATION OF REGISTRATION.

# DEFINED TERMS

Words that are underlined in this form are defined terms and have the meanings contained in the Definition of Terms section.

# GENERAL

Read the Instructions and Questions Carefully

A question that is answered incorrectly because it was misread or misinterpreted can result in severe consequences, including denial or revocation of registration. Although this applies to all questions in the application, it is particularly important to the questions in the Disciplinary Information Section.

Rely Only on Advice from NFA Staff

A question that is answered incorrectly because of advice received from a lawyer, employer, a judge or anyone else (other than a member of NFA's Registration, Compliance, Legal or Information Center ("RCLI") departments) can result in severe consequences, including denial or revocation of registration. This also applies to all questions in the form, but is particularly important regarding the Disciplinary Information Section. If the language of a question in the Disciplinary Information Section requires disclosure of a matter, a "Yes" answer to the question is required no matter what other advice has been received from anyone other than NFA's RCLI staff. Additionally, the applicant or registrant remains responsible for failures to disclose even if someone completes the form on the applicant's or registrant's behalf.

Update the Information on the Application

If information provided on the application changes or a matter that would have required disclosure on the application occurs after the application is filed, the new information must be promptly filed, APs and Principals should advise their Sponsors of the new information, and the Sponsor must file the update on their behalf. The failure to promptly update information can result in severe consequences, including denial or revocation of registration.

Compliance with Disclosure Requirements of Another Regulatory Body is not Sufficient

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 2

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

With some exceptions, which are described below in the Regulatory and Financial Questions sections, if any question requires the provision of information, that information must be provided. In particular, if a question in the Disciplinary Information Section requires disclosure of a matter, the question must be answered "Yes" and additional documents must be provided even if the matter has been disclosed to another regulatory body such as FINRA, an exchange or a state regulator. Similarly, disclosure is required even if another regulatory body does NOT require disclosure of the same matter.

Call NFA with Questions

If there is any question about whether particular information must be provided, whether a particular matter must be disclosed or whether a particular question requires a "Yes" answer, call the NFA Information Center at (312) 781-1410. Representatives are available from 8:00 a.m. to 5:00 p.m., Central Time, Monday through Friday. If the advice of NFA staff is sought, a written record containing the date of the conversation, the name of the NFA staff person giving the advice and a description of the advice should be made during the conversation and kept in the event an issue concerning disclosure of the matter arises later.

# DISCIPLINARY INFORMATION SECTION

Criminal Disclosures

Some common mistakes in answering the criminal disclosure questions involve expungements, diversion programs and similar processes. The Commodity Futures Trading Commission requires a "Yes" answer even if the matter has been expunged or the records sealed, there was no adjudication or finding of guilt, the guilty plea was vacated or set aside or the matter was dismissed upon completion of the diversion program.

Another common error regarding criminal matters concerns matters that do not involve the futures industry. All criminal matters must be disclosed, even if a matter is unrelated to the futures industry, unless the case was decided in a juvenile court or under a Youth Offender law.

Regulatory Disclosures

Regulatory actions taken by the Commodity Futures Trading Commission, NFA or domestic futures exchanges do not need to be disclosed since NFA is already aware of them once they are entered into NFA's BASIC system.

Financial Disclosures

It is not necessary to disclose arbitration or CFTC reparations matters unless the applicant or registrant has failed to pay an award issued in a futures-related arbitration or an order entered in a

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 3

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

reparations matter.

Only adversary actions that a bankruptcy trustee or a trustee's attorney files must be disclosed. Adversary actions that creditors file are not disclosable. A person named as a party to an adversary action in a bankruptcy proceeding must disclose the action, even if the person is not the bankrupt person.

# ADDITIONAL DOCUMENTS

For any matter that caused a "Yes" answer, a written explanation detailing the events and conduct must be provided. That explanation can be entered on the Matter pages by giving it a name, e.g., the docket number of the case, and describing it in the text box. Alternatively, the explanation can be sent in hard copy format to NFA.

In addition to the required explanation, other documents about the matter must be sent to NFA. If court documents are unavailable, a letter from the court verifying that must be sent to NFA. If documents other than court documents are unavailable, the person must provide a written explanation for their unavailability.

Like answering the questions correctly, providing all documents to NFA is important. Failure to do so will delay the registration process and may result in a denial of the application.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 4

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Definition of Terms

(The following terms are defined solely for the purpose of using NFA's Online Registration System.)

10% OR MORE INTEREST: direct or indirect ownership of 10% or more of an applicant's or registrant's stock; entitlement to vote or empowered to sell 10% or more of an applicant's or registrant's voting securities; contribution of 10% or more of an applicant's or registrant's capital; or entitlement to 10% or more of an applicant's or registrant's net profits.

ADJUDICATION: in a criminal case, a determination by the court that the defendant is guilty or not guilty.

ADVERSARY ACTION: a lawsuit arising in or related to a bankruptcy case commenced by a creditor or bankruptcy trustee by filing a complaint with the bankruptcy court.

ALIAS: another name utilized by an individual or previously used by an entity.

CHARGE: a formal complaint, information, indictment or equivalent instrument containing an accusation of a crime.

DBA: abbreviation for Doing Business As. The firm is doing its futures, retail off-exchange forex or swaps business by this name.

# DESIGNATED SUPERVISOR:

Solely for the purpose of determining whether the Branch Manager Examination (Series 30) is required, Designated Supervisor means a person who is registered with FINRA (formerly known as NASD) as a General Securities Representative and has been designated to act as the supervisor of an office that is not an Office of Supervisory Jurisdiction ("non-OSJ"), provided that:

- either the futures activity conducted in the non-OSJ that is subject to the Designated Supervisor's supervision is limited to activity not requiring the Series 3 Examination and both the Designated Supervisor and the Branch Manager of the Office of Supervisory Jurisdiction to which the non-OSJ reports have otherwise satisfied NFA's Proficiency Requirements appropriate to their supervisory activities; or
- the activity that is conducted in the non-OSJ that requires the Series 3 Examination is supervised by the Branch Manager of the Office of Supervisory Jurisdiction to which the non-OSJ reports and both the Designated Supervisor and Branch Office Manager have passed the Series 3 Examination.

ENJOINED: subject to an injunction.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

ENTITY: any person other than an individual.

FELONY: any crime classified as a felony and for states and countries that do not differentiate between a felony or misdemeanor, an offense that could result in imprisonment for any period of more than one year. The term also includes a general court martial.

FINANCIAL SERVICES INDUSTRY: the commodities, securities, accounting, banking, finance, insurance, law or real estate industries.

FOUND: subject to a determination that conduct or a rule violation has occurred. The term applies to dispositions of any type, including but not limited to consent decrees or settlements in which the findings are neither admitted nor denied or in which the findings are for settlement or record purposes only.

# INTERNAL REVENUE CODE:

Section 7203: Willful Failure to File Return, Supply Information or Pay Tax

Section 7204: Fraudulent Statement or Failure to Make Statement

Section 7205: Fraudulent Withholding Exemption Certificate or Failure to Supply Information

Section 7207: Fraudulent Returns, Statements or Other Documents

# INVESTMENT RELATED STATUTES:

The Commodity Exchange Act
The Securities Act of 1933
The Securities Exchange Act of 1934
The Public Utility Holding Company Act of 1935
The Trust Indenture Act of 1939
The Investment Advisers Act of 1940
The Investment Company Act of 1940
The Securities Investors Protection Act of 1970
The Foreign Corrupt Practices Act of 1977
Chapter 96 of Title 18 of the United States Code
Any similar statute of a State or foreign jurisdiction
Any rule, regulation or order under any such statutes; and
The rules of the Municipal Securities Rulemaking Board

MISDEMEANOR: any crime classified as a misdemeanor and for states and countries that do not differentiate between a felony or misdemeanor, an offense that could result in imprisonment for any period of at least six days but not more than one year. By way of example, an offense for which the maximum period of imprisonment is 60 days would be considered a misdemeanor. The term also includes a special court martial.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 6

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

OTHER NAME: For firms or sole proprietors, any other name that the applicant uses or has used in the past for its futures, retail off-exchange forex or swaps business but not the name of any other legal entity that the applicant has an affiliation or association with (see DBA). For individuals, this is any name the person is or has been known by. For example, a maiden name, an alias name that you use or are known by, or a previous name if you have changed your legal name.

PERSON: an individual, association, partnership, corporation, limited liability company, limited liability partnership, trust, or other form of business organization.

PRINCIPAL: an individual who is:

- a sole proprietor of a sole proprietorship; or
- a general partner of a partnership; or
- a director, president, chief executive officer, chief operating officer or chief financial officer of a corporation, limited liability company or limited partnership; or
- in charge of a business unit, division or function of a corporation, limited liability company or limited partnership if the unit, division or function is subject to regulation by the Commission; or
- a manager, managing member or a member vested with the management authority for a limited liability company or limited liability partnership; or

an individual who directly or indirectly, through agreement, holding companies, nominees, trusts or otherwise:

- is the owner of \(10\%\) or more of the outstanding shares of any class of a registrant's stock; or
- is entitled to vote \(10\%\) or more of any class of a registrant's voting securities; or
- has the power to sell or direct the sale of \(10\%\) or more of any class of a registrant's voting securities; or
- has contributed \(10\%\) or more of a registrant's capital; or
- is entitled to receive \(10\%\) or more of a registrant's net profits; or
- has the power to exercise a controlling influence over a registrant's activities that are subject to regulation by the Commission; or

an entity that:

is a general partner of a registrant; or
- is the direct owner of \(10\%\) or more of any class of a registrant's securities; or
- has directly contributed \(10\%\) or more of a registrant's capital unless such capital contribution consists of subordinated debt contributed by:

- an unaffiliated bank insured by the Federal Deposit Insurance Corporation; or

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

- a United States branch or agency of an unaffiliated foreign bank that is licensed under the laws of the United States and regulated, supervised and examined by United States government authorities having regulatory responsibility for such financial institutions; or

- an insurance company subject to regulation by any State.

SELF-REGULATORY ORGANIZATION (SRO): a private, non-governmental organization authorized to set and enforce standards or conduct for an industry. NFA, FINRA (formerly known as NASD), and the securities and futures exchanges in the U.S. are examples of domestic SROs.

# UNITED STATES CRIMINAL CODE:

| Section 152: | Concealment of assets, making false claims or bribery in connection with a bankruptcy |
| --- | --- |
| Section 1341, 1342 or 1343: | Mail fraud |
| Chapter 25: | Counterfeiting and forgery |
| Chapter 47: | Fraud or false statements in a matter within the jurisdiction of a United States department or agency |
| Chapter 95 or 96: | Racketeering and Racketeering Influence |

# National Futures Association

Firm Application (7R) Filed December 13, 2012

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

Page 8

# Privacy Act and Paperwork Reduction Act Notice

The information in Forms 7-R, 7-W, 8-R and 8-T and on the fingerprint card is being collected pursuant to authority granted in Sections 2c, 4f, 4k, 4n, 4s, 8a and 19 of the Commodity Exchange Act [7 U.S.C. §§ 6f, 6k, 6n, 6s, 12a and 23]. Under Section 2c, it is unlawful for anyone to engage in off-exchange foreign currency futures transactions or off-exchange foreign currency leveraged, margined or financed transactions with persons who are not eligible contract participants without registration, or exemption from registration, as a retail foreign exchange dealer, futures commission merchant, introducing broker, commodity pool operator or commodity trading advisor, as appropriate. Under Section 4d of the Commodity Exchange Act [7 U.S.C. §6d], it is unlawful for anyone to act as a futures commission merchant or introducing broker without being registered in that capacity under the Act. Under Section 4m of the Commodity Exchange Act [7 U.S.C. §6m], it is unlawful for a commodity trading advisor or commodity pool operator to make use of the mails or any means or instrumentality of interstate commerce in connection with his business as a commodity trading advisor or commodity pool operator without being registered in the appropriate capacity under the Act, except that a commodity trading advisor who, during the course of the preceding 12 months, has not furnished commodity trading advice to more than 15 persons and does not hold himself out generally to the public as a commodity trading advisor, need not register. Under Section 4s of the Commodity Exchange Act [7 U.S.C. §6s], it is unlawful for anyone to act as a swap dealer or major swap participant without being registered in that capacity under the Act. Under Section 19 of the Commodity Exchange Act [7 U.S.C. §23] and Section 31.5 of the CFTC's regulations, it is unlawful for anyone to act as a leverage transaction merchant without being registered in that capacity under the Act.

The information requested in Form 7-R is designed to assist NFA and the CFTC, as appropriate, in determining whether the application for registration should be granted or denied and to maintain the accuracy of registration files. The information in Form 7-W is designed to assist NFA and the CFTC in determining whether it would be contrary to the requirements of the Commodity Exchange Act, or any rule, regulation or order thereunder, or the public interest to permit withdrawal from registration.

The information requested in Form 8-R and on the fingerprint card will be used by the CFTC or NFA, as appropriate, as a basis for initiating an inquiry into the individual's fitness to be an associated person, floor broker or floor trader or to be a principal of a futures commission merchant, swap dealer, major swap participant, retail foreign exchange dealer, introducing broker, commodity trading advisor, commodity pool operator, leverage transaction merchant or non-natural person floor trader. Portions of the information requested in Form 8-R will be used by the CFTC and, in appropriate cases, by NFA, to confirm the registration of certain associated persons. The information requested in Form 8-T will be used by the CFTC, and, in appropriate cases, by NFA, to record the registration status of the individual and, in appropriate cases, as a basis for further inquiry into the individual's fitness to remain in business subject to the CFTC's jurisdiction.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

Page 9

With the exception of the social security number, all information in Forms 8-R and 8-T must be furnished. Disclosure of the social security number is voluntary. Disclosure of the Federal employer identification number is voluntary. The social security number and the Federal employer identification number are sought pursuant to the Debt Collection Improvement Act of 1996. Under the Debt Collection Improvement Act, a social security number or a taxpayer identifying number furnished to the CFTC as part of the registration process can be used for purposes of collecting and reporting on any debt owed to the U.S. Government, including civil monetary penalties. The furnishing of a social security number or Federal employer identification number, however, assists the CFTC and NFA in identifying individuals and firms and therefore expedites the processing of those forms.

The failure by an applicant, registrant or principal to timely file a properly completed Form 7-R and all other related required filings may result in the denial of an application for registration or withdrawal thereof or, in the case of an annual records maintenance fee, treating the registrant as having petitioned for withdrawal. Failure by an applicant, registrant or principal to timely file or cause to be filed a properly completed Form 8-R or 8-T, any other required related filings, or a fingerprint card may result in the lapse, denial, suspension or revocation of registration, withdrawal of the application or other enforcement or disciplinary action by the CFTC or NFA.

With the exception of the fingerprint card, any information contained in the Personal Information Section and any information contained in Matter Information pages related to the Disciplinary Information Sections on Form 8-R and on Form 8-T or Item 7 on Form 8-W, the Forms 7-R, 7-W, 8-R and 8-T are considered by the CFTC to be public records and will be available for inspection by any person. Copies will be maintained by National Futures Association, Registration Department, Suite 1800, 300 S. Riverside Plaza, Chicago, IL 60606-6615. Further, the CFTC or NFA may disclose the fingerprint card and any other information described above to third parties pursuant to routine uses which the CFTC has published in the Federal Register or as otherwise authorized under the Privacy Act, [5 U.S.C. §552a], and the Commodity Exchange Act. Disclosure of such information may be made by the CFTC as follows: (1) in connection with administrative proceedings or matters in litigation; (2) in connection with investigations; (3) where the information is furnished to regulatory, self-regulatory and law enforcement or other governmental agencies to assist them in meeting responsibilities assigned to them by law or made available to any member of Congress who is acting in his or her capacity as a member of Congress; (4) where disclosure is required under the Freedom of Information Act [5 U.S.C. §552]; (5) in connection with an employer's hiring or retention of an employee; (6) in connection with the verification of information submitted for sponsorship purposes; (7) in other circumstances in which the withholding of such information appears unwarranted; and (8) in connection with legally required or authorized reports. Disclosure may be made by NFA in accordance with rules approved by the CFTC.

If an individual believes that the placing in the CFTC's or NFA's public files of any of the information contained in the Personal Information Section or in Matter Information pages related

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

to Disciplinary Information on Form 8-R and on Form 8-T or Item 7 on Form 8-W, or on the fingerprint card would constitute an unwarranted invasion of his personal privacy, the individual may petition the CFTC, pursuant to 17 CFR 145.9, to treat such information as confidential in response to requests under the Freedom of Information Act (FOIA) [5 U.S.C. §552]. The CFTC will make no determination as to confidential treatment of information submitted unless and until the information is the subject of an FOIA request. The filing of a petition for confidential treatment, however, does not guarantee that the information will be treated confidentially in response to an FOIA request.

Forms which have not been prepared and executed in compliance with applicable requirements may not be acceptable for filing. Acceptance of this form shall not constitute any finding that the information is true, current or complete. Misstatements or omissions of fact may constitute federal criminal violations [7 U.S.C. §13 and 18 U.S.C. §1001] or grounds for disqualification from registration.

This notice is provided in accordance with the requirements of the Privacy Act [5 U.S.C. §552a(e)(3)] and summarizes some of an individual's rights under the Privacy Act [5 U.S.C. §552a] and the Freedom of Information Act [5 U.S.C. §552]. Individuals desiring further information should consult the CFTC's regulations under the Privacy Act, 17 CFR Part 146, and under the Freedom of Information Act, 17 CFR Part 145, and the CFTC's annual notice, published in the Federal Register, pursuant to the Privacy Act, of the existence and character of each system of records maintained by the CFTC.

You are not required to provide the information requested on a form subject to the Paperwork Reduction Act unless the form displays a valid OMB Control Number.

The time needed to complete and file Form 7-R, Form 3-R, Form 7-W, Form 8-R and Form 8-T and Form 8-W may vary depending upon individual circumstances. The estimated average times are:

Form 7-R

FCM 0.5 hours

SD 1.0 hours

MSP 1.0 hours

RFED 0.5 hours

IB 0.4 hours

CPO 0.4 hours

CTA 0.4 hours

FT 0.5 hours

Form 3-R 0.1 hours

Form 7-W 0.1 hours

Form 8-R 0.8 hours

Form 8-T 0.2 hours

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 11

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

Form 8-W 0.1 hours.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 12

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Registration Categories

NFA MEMBER

SWAP DEALER

## Membership Information

Not applicable.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 13

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Business Information

| Business Address | 25 CABOT SQUARE CANARY WHARF LONDON E14 4QA UNITED KINGDOM |
| --- | --- |

Phone Number +44 (0) 20 7425 8000

Fax Number Not provided.

E-mail Address Not provided.

Website / URL Not provided.

Federal EIN Not provided.

CRD ID Not provided.

Form of Organization CORPORATION

Location UNITED KINGDOM

Other Names MORGAN STANLEY & CO INTERNATIONAL LTD
ALIAS

MORGAN STANLEY INTERNATIONAL
ALIAS

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Location of Business Records

Business Records Address

25 CABOT SQUARE

CANARY WHARF

LONDON E14 4QA

UNITED KINGDOM

U.S. Address for Production of Business Records

MORGAN STANLEY

1585 BROADWAY

NEW YORK, NY 10036

UNITED STATES

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Holding Company Information

Name: MORGAN STANLEY FINANCE LIMITED

10% or more interest? YES

Name: MORGAN STANLEY SERVICES (UK) LIMITED

10% or more interest? YES

Name: MORGAN STANLEY STRATEGIC FUNDING LIMITED

10% or more interest? YES

Name: MORGAN STANLEY UK GROUP

10% or more interest? YES

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Regulator Information

Non-U.S. Regulator(s) During The Past Five Years

FINANCIAL SERVICES AUTHORITY

25 THE NORTH COLONNADE

CANARY WHARF

LONDON

E14 5HS

U.S. Regulator(s)

None.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Disciplinary Information

### Criminal Disclosures

For additional assistance and information on completing this page, refer to the Instructions and Definition of Terms at the beginning of this document.

THE FIRM OR SOLE PROPRIETOR MUST ANSWER "YES" TO THE QUESTIONS ON THIS PAGE EVEN IF:

ADJUDICATION OF GUILT WAS WITHHELD OR THERE WAS NO CONVICTION; OR
- THERE WAS A CONDITIONAL DISCHARGE OR POST-CONVICTION DISMISSAL AFTER SUCCESSFUL COMPLETION OF A SENTENCE; OR
A STATE CERTIFICATE OF RELIEF FROM DISABILITIES OR SIMILAR DOCUMENT WAS ISSUED RELIEVING THE HOLDER OF FORFEITURES, DISABILITIES OR BARS RESULTING FROM A CONVICTION; OR
THE RECORD WAS EXPUNGED OR SEALED; OR
A PARDON WAS GRANTED.

THE FIRM OR SOLE PROPRIETOR MAY ANSWER "NO" IF THE CASE WAS DECIDED IN A JUVENILE COURT OR UNDER A YOUTH OFFENDER LAW.

A. Has the firm or sole proprietor ever pled guilty or nolo contendere ("no contest") to or been convicted or found guilty of any felony in any domestic, foreign or military court? NO

B. Has the firm or sole proprietor ever pled guilty to or been convicted or found guilty of any misdemeanor in any domestic, foreign or military court which involves: NO

- embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property; or
- violation of sections 7203, 7204, 7205 or 7207 of the Internal Revenue Code of 1986; or
- violation of sections 152, 1341, 1342 or 1343 or chapters 25, 47, 95 or 96 of the United States Criminal Code; or
- any transaction in or advice concerning futures, options, leverage transactions or

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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Submitted By CHOQUEM MARJORIE CHOQUE

securities?

C. Is the firm or sole proprietor a party to any action, or is there a charge pending, the resolution of which could result in a "Yes" answer to the above questions? NO

For any "Yes" answer to the questions above, has the firm or sole proprietor previously provided NFA or the CFTC all supplemental documentation for all matters requiring a "Yes" answer? N/A

# National Futures Association

Firm Application (7R) Filed December 13, 2012

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Submitted By CHOQUEM MARJORIE CHOQUE

## Regulatory Disclosures

For additional assistance and information on completing this page, refer to the Instructions and Definition of Terms at the beginning of this document.

D. In any case brought by a domestic or foreign governmental body (other than the CFTC), has the firm or sole proprietor ever been permanently or temporarily enjoined after a hearing or default or as the result of a settlement, consent decree or other agreement, from engaging in or continuing any activity involving:

NO

- any transaction in or advice concerning futures, options, leverage transactions or securities; or
- embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property?

E. In any case brought by a domestic or foreign governmental body (other than the CFTC), has the firm or sole proprietor ever been found after a hearing or default or as the result of a settlement, consent decree or other agreement, to:

YES

- have violated any provision of any investment-related statute or regulation; or
- have violated any statute, rule, regulation or order which involves embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property; or
- have willfully aided, abetted, counseled, commanded, induced or procured such violation by any other person?

F. Has the firm or sole proprietor ever been debarred by any agency of the United States from contracting with the United States?

NO

G. Has the firm or sole proprietor ever been the subject of any order issued by or a party to any agreement with a domestic or foreign regulatory authority (other than the CFTC), including but not limited to a licensing authority, or self-regulatory organization (other than NFA or a domestic futures exchange) that prevented or restricted the firm or sole proprietor's ability to engage in any business in the financial services industry?

NO

# National Futures Association

| Firm Application (7R) Filed December 13, 2012 | Page 20 |
| --- | --- |
| OMB Number | 3038-0072 |
| NFA ID | 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC |
| Submitted By | CHOQUEM MARJORIE CHOQUE |

H. Are any of the orders or other agreements described in Question G currently in effect against the firm or sole proprietor? NO

I. Is the firm or sole proprietor a party to any action, or is there a charge pending, the resolution of which could result in a "Yes" answer to the above questions? YES

For any "Yes" answer to the questions above, has the firm or sole proprietor previously provided NFA or the CFTC all supplemental documentation for all matters requiring a "Yes" answer? NO

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 21

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Financial Disclosures

For additional assistance and information on completing this page, refer to the Instructions and Definition of Terms at the beginning of this document.

J. Has the firm or sole proprietor ever been the subject of an adversary action brought by, or on behalf of, a bankruptcy trustee? YES

For any "Yes" answer to the question above, has the firm or sole proprietor previously provided NFA or the CFTC all supplemental documentation for all matters requiring a "Yes" answer? NO

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 22

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Contact Information

Registration Contact

DONNA O'MOORE

MS

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 6453

Membership Contact

JONATHAN REES

MR

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 5475

E-mail: JONATHAN.REES@MORGANSTANLEY.COM

Accounting Contact

JONATHAN REES

MR

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 5475

E-mail: JONATHAN.REES@MORGANSTANLEY.COM

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 23

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

# Arbitration Contact

MICHAEL HARTRIDGE

MR

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 6347

E-mail: MICHAEL.HARTRIDGE@MORGANSTANLEY.COM

# Compliance Contact

JONATHAN REES

MR

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 5475

E-mail: JONATHAN.REES@MORGANSTANLEY.COM

# Chief Compliance Officer

GRAEME RUSSELL

MR

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 2436

E-mail: GRAEME.RUSSELL@MORGANSTANLEY.COM

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 24

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

# Enforcement/Compliance Communication Contact

MARJORIE CHOQUE

MISS

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 6017

E-mail: MARJORIE.CHOQUE@MORGANSTANLEY.COM

# Enforcement/Compliance Communication Contact

JONATHAN REES

MR

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 20 7677 5475

E-mail: JONATHAN.REES@MORGANSTANLEY.COM

# Enforcement/Compliance Communication Contact

GRAEME RUSSELL

MR

20 BANK STREET

CANARY WHARF

LONDON E14 4AD

UNITED KINGDOM

Phone: +44 (0) 207 677 2436

E-mail: GRAEME.RUSSELL@MORGANSTANLEY.COM

# National Futures Association

Firm Application (7R) Filed December 13, 2012

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

Page 25

# Firm Certification Statement

BY FILING THIS FORM 7-R, THE APPLICANT AGREES THAT SUCH FILING CONSTITUTES THE APPLICANT'S

certification that the answers and the information provided in the Form 7-R are true, complete and accurate and that in light of the circumstances under which the applicant has given them, the answers and statements in the Form 7-R are not misleading in any material respect;

certification that the person who electronically files the Form 7-R on behalf of the applicant is authorized by the applicant to file the Form 7-R and to make the certifications, representations, requests, acknowledgements, authorizations and agreements contained in this agreement;

certification that, if the applicant is an applicant for registration as an SD or MSP, the applicant undertakes that, no later than ninety (90) days following the date this Form 7-R is filed, it will be and shall remain in compliance with the requirement of Section 4s(b)(6) of the Act that, except to the extent otherwise specifically provided by rule, regulation or order, the applicant will not permit any person associated with it who is subject to a statutory disqualification to effect or be involved in effecting swaps on behalf of the applicant, if the applicant knows, or in the exercise of reasonable care should know, of the statutory disqualification. For the purpose of this certification, "statutory disqualification" refers to the matters addressed in Sections 8a(2) and 8a(3) of the Act and "person" means an "associated person of a swap dealer or major swap participant" as defined in Section 1a(4) of the Act and CFTC regulations thereunder;

acknowledgement that the applicant is subject to the imposition of criminal penalties under Section 9(a) of the Act and 18 U.S.C. §1001 for any false statements or omissions made in the Form 7-R;

acknowledgement that the applicant is responsible at all times for maintaining the information in the Form 7-R in a complete, accurate and current manner by electronically filing updates to the information contained therein;

acknowledgement that the applicant may not act as an FCM, RFED, IB, CPO, CTA or FT until registration has been granted, that the applicant may not act as a Forex Firm or Forex Dealer Member until approval as a Forex Firm or designation as an approved Forex Dealer Member has been granted and that the applicant may not act as a Swap Firm until approval as a Swap Firm has been granted; in the case of an IB, until registration or a temporary license has been granted; or in the case of an SD or MSP, until registration or provisional registration has been granted;

or until confirmation of exemption from registration as an IB, CPO or CTA pursuant to CFTC Regulation 30.5 is granted;

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 26

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

authorization that NFA may conduct an investigation to determine the applicant's fitness for registration or for confirmation of exemption from registration as an IB, CPO and CTA pursuant to CFTC Regulation 30.5 and, if applicable, NFA membership and agreement to cooperate promptly and fully, consistent with applicable Federal law, in such investigation, which investigation may include contacting foreign regulatory and law enforcement authorities, including the submission of documents and information to NFA that NFA, in its discretion, may require in connection with the applicant's application for registration, confirmation of exemption from registration as an IB, CPO and CTA pursuant to CFTC Regulation 30.5 or NFA membership;

authorization and request that any person, including but not limited to contract markets, furnish upon request to NFA or any agent acting on behalf of NFA any information requested by NFA in connection with any investigation conducted by NFA to determine the applicant's fitness for registration or for confirmation of exemption from registration as an IB, CPO and CTA pursuant to CFTC Regulation 30.5;

agreement that any person furnishing information to NFA or any agent acting on behalf of NFA in connection with the investigation so authorized is released from any and all liability of whatever nature by reason of furnishing such information to NFA or any agent acting on behalf of NFA;

agreement that, if the applicant is a foreign applicant:

subject to any applicable blocking, privacy or secrecy laws, the applicant's books and records will be available for inspection by the CFTC, the U.S. Department of Justice ("DOJ") and NFA for purposes of determining compliance with the Act, CFTC Regulations and NFA Requirements;

subject to any applicable blocking, privacy or secrecy laws, such books and records will be produced on 72 hours notice at the location in the United States stated in the Form 7-R or, in the case of an IB, CPO or CTA confirmed as exempt from registration pursuant to CFTC Regulation 30.5, at the location specified by the CFTC or DOJ, provided, however, if the applicant is applying for registration as an FCM, SD, MSP or RFED, upon specific request, such books and records will be produced on 24 hours notice except for good cause shown;

the applicant will immediately notify NFA of any changes to the location in the United States where such books and records will be produced;

except as the applicant has otherwise informed the CFTC in writing, the applicant is not subject to any blocking, privacy or secrecy laws which would interfere with or create an obstacle to full inspection of the applicant's books and records by the CFTC, DOJ and NFA;

subject to any applicable blocking, privacy or secrecy laws, the failure to provide the CFTC,

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 27

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

DOJ or NFA with access to its books and records in accordance with this agreement may be grounds for enforcement and disciplinary sanctions, denial, suspension or revocation of registration, withdrawal of confirmation of exemption from registration as an IB, CPO or CTA pursuant to CFTC Regulation 30.5, and denial, suspension or termination of NFA membership; and

subject to any applicable blocking, privacy or secrecy laws, the applicant for registration shall provide to NFA copies of any audit or disciplinary report related to the applicant for registration issued by any non-U.S. regulatory authority or non-U.S. self-regulatory organization and any required notice that the applicant for registration provides to any non-U.S. regulatory authority or non-U.S. self-regulatory organization and shall provide these copies both as part of this application and thereafter immediately upon the applicant for registration's receipt of any such report or provision of any such notice;

representation that if the applicant is an applicant for exemption from registration as an IB, CPO or CTA pursuant to CFTC Regulation 30.5:

the applicant does not act as an IB, CPO or CTA, respectively, in connection with trading on or subject to the rules of a designated contract market in the United States by, for or on behalf of any U.S. customer, client or pool;

the applicant irrevocably agrees to the jurisdiction of the Commission and state and federal courts located in the U.S. with respect to activities and transactions subject to Part 30 of the CFTC's regulations; and

the applicant would not be statutorily disqualified from registration under §8a(2) or §8a(3) of the Act and is not disqualified from registration pursuant to the laws or regulations of its home country;

an express agreement that, whenever admitted to NFA membership, the applicant and its employees shall become and remain bound by all NFA requirements, including without limitation all applicable NFA Bylaws, Compliance Rules, Financial Requirements, Registration Rules, Code of Arbitration and Member Arbitration Rules, as then and thereafter in effect, and that this agreement shall apply each time the applicant becomes a Member of NFA; and

if the applicant is applying for NFA membership, certification that the applicant has authorized the person filing this application for NFA membership to file it on the Applicant's behalf.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 28

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

## Confidential Matter Information

### Regulatory Disclosures

| Matter Name | FINANCIAL SERVICES AUTHORITY (UK) - FINAL NOTICE TO MORGAN STANLEY AND CO. INTERNATIONAL PLC “MSIP” |
| --- | --- |
| Matter Details | ON 13 MAY 2009, THE FSA IMPOSED A FINANCIAL PENALTY OF £1.4 MILLION ON MSIP FOR BREACHES OF PRINCIPLES 2 AND 3 OF THE FSA’S PRINCIPLES FOR BUSINESSES WHICH OCCURRED BETWEEN NOVEMBER 2007 AND MAY 2008. THE CASE RELATED TO A MIS-MARKING INCIDENT IN THE INTEREST RATES, CREDIT AND CURRENCY DEPARTMENT OF MSIP. FSA ALLEGED THAT MSIP BREACHED PRINCIPLE 2 BY FAILING TO CONDUCT ITS BUSINESS WITH DUE SKILL, CARE AND DILIGENCE AND BREACHED PRINCIPLE 3 BY FAILING TO TAKE REASONABLE CARE TO ORGANISE AND CONTROL ITS AFFAIRS RESPONSIBLY AND EFFECTIVELY, WITH ADEQUATE RISK MANAGEMENT SYSTEMS. FSA NOTED THAT THE TRADER IN QUESTION HID HIS MISCONDUCT FROM MSIP BY MANIPULATING THE SYSTEMS IT HAD IN PLACE TO MONITOR HIS TRADING ACTIVITY. FSA ALSO NOTED A NUMBER OF MITIGATING FACTORS IN MSIP’S FAVOUR INCLUDING THAT MSIP IDENTIFIED IRREGULARITIES IN THE TRADER’S MARKING OF HIS POSITIONS; MSIP COMMISSIONED A DETAILED REVIEW OF THE INCIDENT; MSIP COMMITTED SIGNIFICANT RESOURCES TO IDENTIFY AND ADDRESS ANY WEAKNESSES; AND THE POSITIONS WHICH WERE THE SUBJECT OF THE MIS-MARKING WERE PROPRIETARY POSITIONS AND DID NOT AFFECT ITS CLIENTS. MSIP DID NOT APPEAL THE DECISION. |
| Matter Name | CMVM - ADMINISTRATIVE OFFENCE PROCEEDINGS N 33/2010 AGAINST MSIP |
| Matter Details | ON 19 MARCH 2012, THE PORTUGUESE SECURITIES REGULATOR, COMISSAO DO MERCADO DE VALORES MOBILIARIOS (CMVM) ISSUED ADMINISTRATIVE PROCEEDINGS |

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 29

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

AGAINST MSIP, ALLEGING THAT MSIP VIOLATED ITS DUTY TO DEFEND THE MARKET IN BREACH OF ARTICLE 311 OF THE MOVABLE ASSETS CODE. THE PROCEEDINGS RELATE TO CERTAIN TRADES EXECUTED BY MSIP IN ITS CAPACITY AS JOINT GLOBAL BOOKRUNNER AND STABILISATION AGENT FOR THE IPO OF EDP RENOVAVEIS S.A. ON 4 JUNE 2008. THE MATTER IS STILL PENDING.

# Financial Disclosures

Matter Name WINDING-UP BOARD OF LANDSBANKI ISLANDS HF V MSIP (FILE NO. 253-12-0628)

Matter Details ON 5 FEBRUARY 2012, THE LANDSBANKI WUB BROUGHT A CLAIM AGAINST MSIP IN THE REYKJAVIK DISTRICT COURT IN RELATION TO THREE TRADES ENTERED INTO BETWEEN MSIP AND LANDSBANKI IN JULY AND AUGUST 2008. THE LANDSBANKI WUB IS SEEKING TO CLAW BACK €3.490.689.78 FROM MSIP, BEING THE PURCHASE PRICE PAID TO MSIP BY LANDSBANKI UNDER THE TRADES. THE MATTER IS STILL PENDING.

Matter Name WINDING-UP BOARD OF KAUPTHING HF V MSCS AND MSIP (FILE NO. E-2767/2012)

Matter Details ON 27 JUNE 2012, THE KAUPTHING WUB BROUGHT A CLAIM AGAINST MORGAN STANLEY CAPITAL SERVICES LLC ("MSCS") AND MSIP IN THE REYKJAVIK DISTRICT COURT IN RELATION TO THREE CDS TRADES ENTERED INTO BETWEEN MSCS AND ROXINDA LIMITED BETWEEN APRIL AND AUGUST 2008, PURSUANT TO WHICH ROXINDA SOLD PROTECTION ON KAUPTHING. THE KAUPTHING WUB IS SEEKING TO CLAW BACK APPROX US$21.5 MILLION OF COLLATERAL POSTED BY ROXINDA, WHICH IT ALLEGES KAUPTHING FUNDED BY MAKING VARIOUS PAYMENTS INTO ROXINDA'S ACCOUNT WITH MSIP BETWEEN JUNE AND EARLY OCTOBER 2008. THE US$21.5 MILLION WAS RETAINED BY MSCS FOLLOWING A FAILURE BY ROXINDA TO SATISFY A MARGIN CALL. THE MATTER IS STILL PENDING.

# National Futures Association

Firm Application (7R) Filed December 13, 2012

Page 30

OMB Number 3038-0072

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Submitted By CHOQUEM MARJORIE CHOQUE

Matter Name FAIRFIELD FUNDS V ZURICH CAPITAL MARKETS & ORS (INCL. MSIP) CASE NO. 10-13164

Matter Details ON 21 SEPTEMBER 2010, THE LIQUIDATORS OF FAIRFIELD SENTRY LIMITED; FAIRFIELD SENTRY LIMITED (IN LIQUIDATION) ET AL (THE "FAIRFIELD FUNDS") FILED A COMPLAINT IN THE UNITED STATES BANKRUPTCY COURT, SOUTHERN DISTRICT OF NEW YORK (CASE NO. 10-13164) AGAINST 22 DEFENDANTS, INCLUDING MSIP. THE FAIRFIELD FUNDS WERE CREATED AS A MEANS FOR PRIVATE INVESTMENT IN MANAGED ACCOUNTS WITH BERNARD L. MADOFF INVESTMENT SECURITIES LLC (BLMIS). THE FAIRFIELD FUNDS WERE PLACED INTO LIQUIDATION AFTER THE DISCLOSURE OF THE MADOFF PONZI SCHEME AND THE LIQUIDATORS ARE SEEKING TO RECOVER CERTAIN REDEMPTION PAYMENTS PAID TO THE DEFENDANTS BETWEEN 21 APRIL 2004 AND 14 AUGUST 2006. THE PROCEEDINGS ARE CURRENTLY STAYED.

# Firm Regulatory Disclosure Matter Page
NATIONAL FUTURES ASSOCIATION

Filed on December 16, 2020

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC
Submitted by DUNCAN LAWTHER (LAWTHERD)

The question(s) you are disclosing the regulatory action under:

In any case brought by a U.S. or non-U.S. governmental body (other than the CFTC), has the firm ever been found, after a hearing or default or as the result of a settlement, consent decree or other agreement, to:

- have violated any provision of any investment-related statute or regulation thereunder; or
- have violated any statute, rule, regulation or order which involves embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property; or
- have willfully aided, abetted, counseled, commanded, induced or procured such violation by any other person; or
- have failed to supervise another person's activities under any investment-related statute or regulation thereunder?

# Regulatory Case Information

# Regulatory Information

Regulatory/Civil Action initiated by NON-U.S. REGULATOR: FINANCIAL SUPERVISORY COMMISSION REPUBLIC OF CHINA (TAIWAN)

# Case Information

Case Number N/A
Case Status FINAL
Date Resolved November 2020
Sanctions imposed
OTHER: ADMINISTRATIVE FINE

# Comments

Page 1 of 2

THE FINANCIAL SUPERVISORY COMMISSION REPUBLIC OF CHINA (TAIWAN) (THE 'FSC') ALLEGED THAT MORGAN STANLEY & CO INTERNATIONAL PLC (THE 'FIRM') VIOLATED THE MINIMUM HOLDING PERIOD REQUIREMENT IN CONNECTION WITH THE SALE OF SHARES OF A LISTED COMPANY FOR WHICH THE FIRM WAS DEEMED AN INSIDER DUE TO ITS SHAREHOLDER HOLDING OF MORE THAN 10% OF THE SHARES OF THE COMPANY IN VIOLATION OF ARTICLE 22-2, PARAGRAPH 1, ITEM 2 OF THE SECURITIES AND EXCHANGE LAW. THE FSC IMPOSED AN ADMINISTRATIVE FINE IN THE AMOUNT OF NT$240,000 (APPROXIMATELY USD 8,500) ON THE FIRM.

#### Supporting Documentation---

| Description | TAIWAN MSIP ADMINISTRATIVE FINE ORDER |
| --- | --- |
| File Name | Taiwan MSIP Fine.pdf |

---

Page 2 of 2

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# Registration Information Change

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### FIRM REGULATORY MATTER INFORMATION FILED

**MATTER NAME:** BAFIN DISCLOSURE NOVEMBER 2016: DISCLOSURE RULES

**MATTER DETAIL:** ON NOVEMBER 7, 2016, MORGAN STANLEY & CO. INTERNATIONAL PLC (MSIP) BECAME SUBJECT TO A SUMMARY ORDER BY BUNDESANSTALT FÜR FINANZDIENSTLEISTUNGSAUFSICHT (GERMAN FEDERAL FINANCIAL SUPERVISORY AUTHORITY - "BAFIN") FOR PAYMENT OF AN ADMINISTRATIVE FINE OF €94,500 (PLUS COSTS OF PROCEEDINGS OF €4,725) IN CONNECTION WITH FINDINGS THAT ONE OR SEVERAL MORGAN STANLEY ENTITIES FAILED TO COMPLY WITH THE GERMAN DISCLOSURE RULES FOR HOLDINGS IN GERMAN LISTED ENTITIES BETWEEN MAY 2011 AND SEPTEMBER 2013 PURSUANT TO THE GERMAN SECURITIES TRADING ACT.

**FILED BY:** LAWTHERD

**FILED ON:** 12/21/2016 7:48:39 AM

BY FILING THIS UPDATE, THE APPLICANT, REGISTRANT OR SPONSOR AGREES THAT SUCH FILING CONSTITUTES THE APPLICANT'S, REGISTRANT'S OR SPONSOR'S

certification that the answers and the information provided in the update are true, complete and accurate and that in light of the circumstances under which the applicant, registrant or sponsor has given them, the answers and statements in the update are not misleading in any material respect; certification that the person who electronically files the update on behalf of the applicant, registrant or sponsor is authorized by the applicant, registrant or sponsor to file the update on behalf of the applicant, registrant or sponsor and to make all required certifications and acknowledgements; and acknowledgement that the applicant, registrant or sponsor is subject to the imposition of criminal penalties under Section 9(a) of the Act and 18 U.S.C. §1001 for any false statements or omissions made in the update.

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# Registration Information Change

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### FIRM REGULATORY MATTER INFORMATION FILED

**MATTER NAME:** SWISS FDF MATTER 442.2-133/FRD - UPDATE

**MATTER DETAIL:** ON MAY 23, 2015, A DECREE ON DISMISSAL OF PROCEEDINGS BECAME EFFECTIVE, DISMISSING THE UNDERLYING ADMINISTRATIVE CRIMINAL INVESTIGATION. THE DECREE WAS ENTERED IN CONNECTION WITH AND ON THE BASIS OF A REPARATION PAYMENT OF CHF 50,000.00 MADE BY MSIP TO FDF ON APRIL 9, 2015 PURSUANT TO A SETTLEMENT AGREEMENT BETWEEN MSIP AND FDF. IN THE SETTLEMENT AGREEMENT, SIGNED BY MSIP ON MARCH 23, 2015 AND COUNTERSIGNED BY THE FDF ON MARCH 24, 2015, MSIP (A) ACKNOWLEDGED VIOLATIONS OF ARTICLE 41 OF THE SESTA THROUGH THE LATE DISCLOSURE OF ITS VOTING INTERESTS, (B) UNDERTOOK TO PAY THE AMOUNT OF CHF 50,000 TO THE FDF AS A REPARATION PAYMENT FOR THE WRONG CAUSED BY THE LATE DISCLOSURES, AND (C) DID NOT ACKNOWLEDGE THAT MSIP OR ANY INDIVIDUAL ACTING ON BEHALF OF MSIP WAS GUILTY OF ANY WRONGFUL CONDUCT IN THE SENSE OF THE CRIMINAL LAW. IN ADDITION, THE FDF AGREED TO CLOSE THE PENDING ADMINISTRATIVE CRIMINAL PROCEDURE NO. 442.2-133/FRD.

**FILED BY:** LAWTHERD

**FILED ON:** 6/10/2015 9:19:27 AM

BY FILING THIS UPDATE, THE APPLICANT, REGISTRANT OR SPONSOR AGREES THAT SUCH FILING CONSTITUTES THE APPLICANT'S, REGISTRANT'S OR SPONSOR'S

certification that the answers and the information provided in the update are true, complete and accurate and that in light of the circumstances under which the applicant, registrant or sponsor has given them, the answers and statements in the update are not misleading in any material respect; certification that the person who electronically files the update on behalf of the applicant, registrant or sponsor is authorized by the applicant, registrant or sponsor to file the update on behalf of the applicant, registrant or sponsor and to make all required certifications and acknowledgements; and acknowledgement that the applicant, registrant or sponsor is subject to the imposition of criminal penalties under Section 9(a) of the Act and 18 U.S.C. §1001 for any false statements or omissions made in the update.

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# Registration Information Change

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### FIRM REGULATORY MATTER INFORMATION FILED

**MATTER NAME:** SWISS FDF MATTER 442.2-072/KOE

**MATTER DETAIL:** BY NOTICE DATED JUNE 18, 2013, MORGAN STANLEY & CO. INTERNATIONAL PLC ("MSIP") WAS INFORMED THAT THE SWISS FINANCIAL MARKETS SUPERVISORY AUTHORITY ("FINMA") HAD FILED, ON AUGUST 6, 2012, A COMPLAINT IN THIS MATTER WITH THE SWISS FEDERAL DEPARTMENT OF FINANCE (THE "FDF") AND THAT THE FDF HAD INITIATED AN ADMINISTRATIVE CRIMINAL INQUIRY INTO THE MATTER. MSIP IS ALLEGED TO HAVE BREACHED ARTICLE 20, PARA. 1 OF THE SWISS FEDERAL ACT ON STOCK EXCHANGES AND SECURITIES TRADING BY FAILING IN THREE INSTANCES TO TIMELY NOTIFY THE SIX SWISS EXCHANGES DISCLOSURE OFFICE (THE "DISCLOSURE OFFICE") OF CHANGES IN MSIP'S VOTING RIGHT INTERESTS IN THREE SWISS COMPANIES LISTED ON THE SIX SWISS EXCHANGE. THE INQUIRY OFFICER, IN THE JUNE 18, 2013 INQUIRY OFFICER'S REPORT (THE "REPORT"), BASED UPON THE PRELIMINARY FINDINGS OF FACT, REACHED A PRELIMINARY CONCLUSION OF LAW THAT THE APPLICANT HAD VIOLATED THE NOTIFICATION REQUIREMENT IN THREE INSTANCES. THE REPORT FURTHER NOTES THAT THE IMPOSITION OF A FINE AGAINST MSIP IS BEING CONSIDERED. ON JULY 8, 2013, MSIP, THROUGH ITS SWISS COUNSEL, RESPONDED TO THE JUNE 18, 2013 NOTICE AND THE REPORT, ACKNOWLEDGING THAT A VIOLATION OF THE NOTIFICATION REQUIREMENT DESCRIBED ABOVE HAD OCCURRED. IT NOTED THAT THE THREE VIOLATIONS OCCURRED BECAUSE MSIP MISTAKENLY BELIEVED THAT THE NOTIFICATION REQUIREMENTS DID NOT APPLY TO SECURITIES ACQUIRED OR DISPOSED OF BY MSIP AS PART OF ITS STOCK LENDING BUSINESS. IT FURTHER EXPLAINED THAT MSIP HAD NOT INTENDED TO EXERCISE OR CONTROL THE VOTING RIGHTS IN THE SWISS COMPANIES AT ISSUE, BUT RATHER WAS SIMPLY TRANSACTING IN THEIR STOCKS AS AN INTERMEDIARY IN ORDER TO FACILITATE THE ABILITY OF OTHER MARKET PARTICIPANTS TO BORROW OR LEND THEIR SHARES. AS OF AUGUST 5, 2013, THIS MATTER REMAINS PENDING.

**FILED BY:** HOWARDJ1

**FILED ON:** 8/16/2013 5:01:21 AM

BY FILING THIS UPDATE, THE APPLICANT, REGISTRANT OR SPONSOR AGREES THAT SUCH FILING CONSTITUTES THE APPLICANT'S, REGISTRANT'S OR SPONSOR'S

certification that the answers and the information provided in the update are true, complete and accurate and that in light of the circumstances under which the applicant, registrant or sponsor has given them, the answers and statements in the update are not misleading in any material respect; certification that the person who electronically files the update on behalf of the applicant, registrant or sponsor is authorized by the applicant, registrant or sponsor to file the update on behalf of the applicant, registrant or sponsor and to make all required certifications and acknowledgements; and acknowledgement that the applicant, registrant or sponsor is subject to the imposition of criminal penalties under Section 9(a) of the Act and 18 U.S.C. §1001 for any false statements or omissions made in the update.

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OMB Numbers 3038-0023 and 3038-0072

# Registration Information Change

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### FIRM REGULATORY MATTER INFORMATION FILED

**MATTER NAME:** SWISS FDF MATTER 442.2-133/FRD

**MATTER DETAIL:** BY NOTICE DATED AUGUST 13, 2014 (RECEIVED AUGUST 20, 2014), MORGAN STANLEY & CO. INTERNATIONAL PLC ("MSIP") WAS INFORMED THAT THE SWISS FINANCIAL MARKETS SUPERVISORY AUTHORITY ("FINMA") HAD FILED, ON APRIL 9, 2014, A COMPLAINT IN THIS MATTER WITH THE SWISS FEDERAL DEPARTMENT OF FINANCE (THE "FDF") AND THAT THE FDF HAD INITIATED AN ADMINISTRATIVE CRIMINAL INQUIRY INTO THE MATTER. MSIP IS ALLEGED TO HAVE BREACHED ARTICLE 20, PARA. 1 OF THE SWISS FEDERAL ACT ON STOCK EXCHANGES AND SECURITIES TRADING BY FAILING ON SEVERAL OCCASIONS TO SUBMIT THE REQUIRED FULL INFORMATION TO THE SIX SWISS EXCHANGES DISCLOSURE OFFICE AND TO THE RELEVANT ISSUER WITHIN FOUR TRADING DAYS OF THE OBLIGATION TO NOTIFY HAVING BEEN CREATED. MSIP HAS, THROUGH ITS SWISS COUNSEL, CONTACTED THE FDF TO DISCUSS A POSSIBLE SETTLEMENT OF THIS MATTER AND TO SEEK AN EXTENSION OF THE DEADLINE FOR RESPONDING TO THE REPORT.

**FILED BY:** LAWTHERD

**FILED ON:** 9/23/2014 11:55:01 AM

BY FILING THIS UPDATE, THE APPLICANT, REGISTRANT OR SPONSOR AGREES THAT SUCH FILING CONSTITUTES THE APPLICANT'S, REGISTRANT'S OR SPONSOR'S

certification that the answers and the information provided in the update are true, complete and accurate and that in light of the circumstances under which the applicant, registrant or sponsor has given them, the answers and statements in the update are not misleading in any material respect; certification that the person who electronically files the update on behalf of the applicant, registrant or sponsor is authorized by the applicant, registrant or sponsor to file the update on behalf of the applicant, registrant or sponsor and to make all required certifications and acknowledgements; and acknowledgement that the applicant, registrant or sponsor is subject to the imposition of criminal penalties under Section 9(a) of the Act and 18 U.S.C. §1001 for any false statements or omissions made in the update.

Paperwork Reduction Act Notice and Privacy Act Notice | Disclaimer and Privacy Policy

© 2002-2021 National Futures Association

https://www.nfa.futures.org/eReg/View/PrintDetail.asp?changeTypeCode=1032&formSeqNum=850316&appendChangeText=&changeTypeDesc=... 1/1

10/26/21, 8:24 PM

Online Registration System - Registration Information Change

OMB Numbers 3038-0023 and 3038-0072

# Registration Information Change

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### FIRM REGULATORY MATTER INFORMATION FILED

**MATTER NAME:** SWISS FDF MATTER 442.2-072/KOE

**MATTER DETAIL:** ON OCTOBER 16, 2013, A DECREE ON DISMISSAL OF PROCEEDINGS BECAME EFFECTIVE, DISMISSING THE UNDERLYING ADMINISTRATIVE CRIMINAL INVESTIGATION. THE DECREE WAS ENTERED IN CONNECTION WITH AND ON THE BASIS OF A REPARATION PAYMENT OF CHF 40,000.00 MADE BY MSIP TO THE FEDERAL DEPARTMENT OF FINANCE OF SWITZERLAND (FDF) ON SEPTEMBER 10, 2013 PURSUANT TO A SETTLEMENT AGREEMENT BETWEEN MSIP AND FDF. IN THE SETTLEMENT AGREEMENT, SIGNED BY MSIP ON AUGUST 26, 2013 AND COUNTERSIGNED BY THE FDF ON AUGUST 28, 2013, MSIP (A) ACKNOWLEDGED VIOLATIONS OF ARTICLE 41 OF THE SESTA THROUGH THE LATE DISCLOSURE OF ITS VOTING INTERESTS, (B) UNDERTOOK TO PAY THE AMOUNT OF CHF 40,000 TO THE FDF AS A REPARATION PAYMENT FOR THE WRONG CAUSED BY THE LATE DISCLOSURES, AND (C) DID NOT ACKNOWLEDGE THAT MSIP OR ANY INDIVIDUAL ACTING ON BEHALF OF MSIP WAS GUILTY OF ANY WRONGFUL CONDUCT IN THE SENSE OF THE CRIMINAL LAW. IN ADDITION, THE FDF AGREED TO CLOSE THE PENDING ADMINISTRATIVE CRIMINAL PROCEDURE NO. 442.2-072. UNDER THE TERMS OF THE SETTLEMENT AGREEMENT THE PARTIES, AS WELL AS THEIR ADVISORS, ARE OBLIGED TO TREAT THE PROVISIONS OF THE AGREEMENT CONFIDENTIALLY AND TO REFRAIN FROM DISCLOSING THEM OR MAKING THEM AVAILABLE TO THIRD PARTIES IN ANY OTHER WAY WITHOUT PRIOR CONSENT OF ALL PARTIES.

**FILED BY:** HOWARDJ1

**FILED ON:** 11/25/2013 5:33:45 AM

BY FILING THIS UPDATE, THE APPLICANT, REGISTRANT OR SPONSOR AGREES THAT SUCH FILING CONSTITUTES THE APPLICANT'S, REGISTRANT'S OR SPONSOR'S

certification that the answers and the information provided in the update are true, complete and accurate and that in light of the circumstances under which the applicant, registrant or sponsor has given them, the answers and statements in the update are not misleading in any material respect; certification that the person who electronically files the update on behalf of the applicant, registrant or sponsor is authorized by the applicant, registrant or sponsor to file the update on behalf of the applicant, registrant or sponsor and to make all required certifications and acknowledgements; and acknowledgement that the applicant, registrant or sponsor is subject to the imposition of criminal penalties under Section 9(a) of the Act and 18 U.S.C. §1001 for any false statements or omissions made in the update.

Paperwork Reduction Act Notice and Privacy Act Notice | Disclaimer and Privacy Policy

© 2002-2021 National Futures Association

https://www.nfa.futures.org/eReg/View/PrintDetail.asp?changeTypeCode=1032&formSeqNum=791367&appendChangeText=&changeTypeDesc=... 1/1

![img-0.jpeg](img-0.jpeg)

## Entity Profile Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### Current Status Information

| Branch ID | Status | Effective Date |
| --- | --- | --- |
|  | NFA MEMBER APPROVED | 04/26/2013 |
|  | SWAP DEALER PROVISIONALLY REGISTERED | 12/31/2012 |
|  | EXEMPT FOREIGN FIRM APPROVED | 07/27/1989 |

### Status History Information

| Status | Effective Date |
| --- | --- |
| NFA MEMBER APPROVED | 04/26/2013 |
| SWAP DEALER PROVISIONALLY REGISTERED | 12/31/2012 |
| SWAP DEALER PENDING | 12/13/2012 |
| NFA MEMBER PENDING | 12/13/2012 |
| EXEMPT FOREIGN FIRM APPROVED | 07/27/1989 |

### Outstanding Requirements

Annual Due Date: 5/1/2022

4S SUBMISSIONS IN REVIEW

ANNUAL MEMBERSHIP DUES REQUIRED FOR 2/1/2022

### Disciplined Employee Summary

---

Page 1 of 1

## Business Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

| Name | MORGAN STANLEY & CO INTERNATIONAL PLC |
| --- | --- |
| Form of Organization | CORPORATION |
| Country | UNITED KINGDOM |
| Federal EIN | Not provided |
| Business Address |  |
| Street Address 1 | 25 CABOT SQUARE |
| Street Address 2 | CANARY WHARF |
| Street Address 3 | LONDON |
| Zip/Postal Code | E14 4QA |
| Country | UNITED KINGDOM |
| Phone Number | +44 (0) 20 7425 8000 |
| Fax Number | Not provided |
| Email | Not provided |
| Website/URL | Not provided |
| CRD/IARD ID | Not provided CORPORATION F |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-0.jpeg](img-0.jpeg)

# Exempt Foreign Firm Contact Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Exempt Foreign Firm Contact Address

| First Name | DUNCAN |
| --- | --- |
| Last Name | LAWTHER |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 (0) 20 7425 8834 |
| Email | DUNCAN.LAWTHER@MORGANSTANLEY.COM |

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-1.jpeg](img-1.jpeg)

## Other Names

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

MORGAN STANLEY & CO INTERNATIONAL LTD ALIAS

MORGAN STANLEY INTERNATIONAL ALIAS

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-2.jpeg](img-2.jpeg)

## Location of Business Records

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

| Street Address 1 | 25 CABOT SQUARE |
| --- | --- |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4QA |
| Country | UNITED KINGDOM |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-3.jpeg](img-3.jpeg)

## U.S. Address for the Production of Business Records---

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

| Office Of | MORGAN STANLEY |
| --- | --- |
| Street Address 1 | 1585 BROADWAY |
| City | NEW YORK |
| State | NEW YORK |
| Zip/Postal Code | 10036 |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-4.jpeg](img-4.jpeg)

## Principal Information

Viewed on November 02, 2022

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### Individual Information

| NFA ID | 0500412 |
| --- | --- |
| Name | BLOOMER, JONATHAN WILLIAM |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 11-25-2016 |

| NFA ID | 0552063 |
| --- | --- |
| Name | BUTLER, MEGAN VERONICA |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 10-28-2022 |

| NFA ID | 0464242 |
| --- | --- |
| Name | CANNON, DAVID OLIVER |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 10-07-2013 |

| NFA ID | 0495618 |
| --- | --- |
| Name | DUHON, TERRI LYNN |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 06-20-2016 |

| NFA ID | 0502573 |
| --- | --- |
| Name | GOBEL, HENRIK |
| Title(s) | HEAD OF A BUSINESS UNIT, DIVISION OR FUNCTION |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 03-08-2017 |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 4

Viewed on November 02, 2022

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC---

| NFA ID | 0497125 |
| --- | --- |
| Name | KOHLI, ARUN |
| Title(s) | CHIEF OPERATING OFFICER |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 10-13-2016 |
| NFA ID | 0519562 |
| Name | LAZAROO, KIM MAREE |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 04-03-2019 |
| NFA ID | 0548137 |
| Name | LEE, PETER BRIAN TRAILL |
| Title(s) | HEAD OF A BUSINESS UNIT, DIVISION OR FUNCTION |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 05-04-2022 |
| NFA ID | 0544899 |
| Name | MULLINEAUX, ANTHONY PHILIP |
| Title(s) | CHIEF FINANCIAL OFFICER |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 12-20-2021 |
| NFA ID | 0531190 |
| Name | ORLACCHIO, SALVATORE |
| Title(s) | HEAD OF A BUSINESS UNIT, DIVISION OR FUNCTION |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 06-18-2020 |
| NFA ID | 0552066 |
| Name | OSMANI PEARCE, JANE ELIZABETH |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) &amp; 3038-0072 (exp. September 30, 2023)

Page 2 of 4

Viewed on November 02, 2022

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC---

| Effective Date | 10-28-2022 |
| --- | --- |
| NFA ID | 0541263 |
| Name | RICHARDS, MELANIE JANE |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 07-30-2021 |
| NFA ID | 0254631 |
| Name | RUSSELL, DAVID ANDREW |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 01-25-2013 |
| NFA ID | 0451783 |
| Name | RUSSELL, GRAEME MILLER |
| Title(s) | CHIEF COMPLIANCE OFFICER |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 03-18-2013 |
| NFA ID | 0530868 |
| Name | SEKHAR, ARYASOMAYAJULA VENKATA CHANDRA |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 06-02-2020 |
| NFA ID | 0532536 |
| Name | TAYLOR, PAUL DAVID |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 08-24-2020 |
| NFA ID | 0478801 |
| Name | WHYTE, NOREEN PHILOMENA |
| Title(s) | DIRECTOR |
| 10% or More Interest | No |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) &amp; 3038-0072 (exp. September 30, 2023)

Page 3 of 4

Viewed on November 02, 2022

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

| Status | APPROVED |
| --- | --- |
| Effective Date | 06-01-2018 |
| NFA ID | 0451781 |
| Name | WOODMAN, CLARE ELEANOR |
| Title(s) | CHIEF EXECUTIVE OFFICER |
| 10% or More Interest | No |
| Status | APPROVED |
| Effective Date | 10-24-2018 |

# Holding Company Information

| NFA ID | 0471637 |
| --- | --- |
| Full Name | MORGAN STANLEY INVESTMENTS UK |
| 10% or More Interest | Yes |
| Status | APPROVED |
| Effective Date | 01-13-2014 |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 4 of 4

![img-5.jpeg](img-5.jpeg)

## Non-U.S. Regulator Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

FINANCIAL SERVICES AUTHORITY (CEASED TO EXIST FROM 31 MARCH 2013) 25 THE NORTH COLONNADE CANARY WHARF LONDON E14 5HS PRUDENTIAL REGULATION AUTHORITY (FROM 1 APRIL 2013) 20 MOORGATE LONDON EC2R 6DA FINANCIAL CONDUCT AUTHORITY (FROM 1 APRIL 2013) 12 ENDEAVOUR SQUARE LONDON E20 1JN

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

# Disciplinary Information - Criminal Disclosures

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

For additional assistance and information on completing this page, refer to the Instructions and Definition of Terms at the beginning of this document.

THE QUESTIONS ON THIS PAGE MUST BE ANSWERED "YES" EVEN IF:

- ADJUDICATION OF GUILT WAS WITHHELD OR THERE WAS NO CONVICTION; OR
- THERE WAS A CONDITIONAL DISCHARGE OR POST-CONVICTION DISMISSAL AFTER SUCCESSFUL COMPLETION OF A SENTENCE; OR
- A STATE CERTIFICATE OF RELIEF FROM DISABILITIES OR SIMILAR DOCUMENT WAS ISSUED RELIEVING THE HOLDER OF FORFEITURES, DISABILITIES OR BARS RESULTING FROM A CONVICTION; OR
- THE RECORD WAS EXPUNGED OR SEALED; OR
- A PARDON WAS GRANTED.

THE QUESTIONS MAY BE ANSWERED "NO" IF THE CASE WAS DECIDED IN A JUVENILE COURT OR UNDER A YOUTH OFFENDER LAW.

For each matter that requires a "Yes" answer to Questions A, B or C below, a Criminal Disclosure Matter Page (DMP) must be filed using NFA's DMP Filing System that requests:

- who was involved;
- when it occurred;
- what the allegations were;
- what the final determination was, if any; and
- the date of the determination.

In addition, documents must be provided for each matter requiring a "Yes" answer that show:

- the charges;
- the classification of the offense, i.e., felony or misdemeanor;
- the plea, sentencing and probation information, as applicable;
- the final disposition; and
- a summary of the circumstances surrounding the criminal matter.

The documents may be provided electronically using the upload function in the DMP Filing System or sending them to NFA (See Instructions).

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 2

Firm Application (Form 7-R) Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Question A

Has the firm ever pled guilty or nolo contendere ("no contest") to or been convicted or found guilty of any felony in any U.S., non-U.S. or military court?

No

Question B

Has the firm ever pled guilty to or been convicted or found guilty of any misdemeanor in any U.S., non-U.S. or military court which involves:

- embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering, or misappropriation of funds, securities or property; or
- violation of sections 7203, 7204, 7205 or 7207 of the Internal Revenue Code of 1986; or
- violation of sections 152, 1341, 1342 or 1343 or chapters 25, 47, 95 or 96 of the U.S. Criminal Code; or
- any transaction in or advice concerning futures, options, leverage transactions or securities?

No

Question C

Is there a charge pending, the resolution of which could result in a "Yes" answer to the above questions?

No

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 2 of 2

# Disciplinary Information - Regulatory Disclosures

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

For additional assistance and information on completing this page, refer to the Instructions and Definition of Terms at the beginning of this document.

For each matter that requires a "Yes" answer to Questions D, E, F, G, H or I below, a Regulatory DMP must be filed using NFA's DMP Filing System that requests:

- who was involved;
- when it occurred;
- what the allegations were;
- what the final determination was, if any;
- the date of the determination; and
- a summary of the circumstances surrounding the regulatory matter.

In addition, documents must be provided for each matter requiring a "Yes" answer that show:

- the allegations; and
- the final disposition.

The documents may be provided electronically using the upload function in the DMP Filing System or sending them to NFA (See Instructions).

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 3

Firm Application (Form 7-R) Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Question D

In any case brought by a U.S. or non-U.S. governmental body (other than the CFTC), has a court ever permanently or temporarily enjoined the firm after a hearing or default or as the result of a settlement, consent decree or other agreement, from engaging in or continuing any activity involving:

- any transaction in or advice concerning futures, options, leverage transactions or securities; or
- embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property?

No

Question E

In any case brought by a U.S. or non-U.S. governmental body (other than the CFTC), has the firm ever been found, after a hearing or default or as the result of a settlement, consent decree or other agreement, to:

- have violated any provision of any investment-related statute or regulation thereunder; or
- have violated any statute, rule, regulation or order which involves embezzlement, theft, extortion, fraud, fraudulent conversion, forgery, counterfeiting, false pretenses, bribery, gambling, racketeering or misappropriation of funds, securities or property; or
- have willfully aided, abetted, counseled, commanded, induced or procured such violation by any other person; or
- have failed to supervise another person's activities under any investment-related statute or regulation thereunder?

Yes

Question F

Has the firm ever been debarred by any agency of the U.S. from contracting with the U.S.?

No

Question G

Has the firm ever been the subject of any order issued by or a party to any agreement with a U.S. or non-U.S. regulatory authority (other than the CFTC), including but not limited to a licensing authority, or self-regulatory organization (other than NFA or a U.S. futures exchange) that prevented or restricted the firm's ability to engage in any business in the financial services industry?

No

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 2 of 3

Firm Application (Form 7-R) Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC---

# Question H

Are any of the orders or other agreements described in Question G currently in effect against the firm?

No

# Question I

Is the firm a party to any action, the resolution of which could result in a 'Yes' answer to the above questions?

Yes

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 3 of 3

# Disciplinary Information - Financial Disclosures

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

For additional assistance and information on completing this page, refer to the Instructions and Definition of Terms at the beginning of this document.

For each matter that requires a "Yes" answer to Question J below, a Financial DMP must be filed using NFA's DMP Filing System that requests:

- who was involved;
- when it occurred;
- what the allegations were;
- what the final determination was, if any;
- the date of the determination; and
- a summary of the circumstances surrounding the financial matter.

In addition, documents must be provided for each matter requiring a "Yes" answer that show:

- the allegations; and
- the final disposition.

The documents may be provided electronically using the upload function in the DMP Filing System or sending them to NFA (See Instructions).

Question J

Has the firm ever been the subject of an adversary action brought by a U.S. bankruptcy trustee?

Yes

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-0.jpeg](img-0.jpeg)

## Registration Contact Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

| First Name | DUNCAN |
| --- | --- |
| Last Name | LAWTHER |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 (0) 20 7425 8834 |
| Email | DUNCAN.LAWTHER@MORGANSTANLEY.COM |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

# Enforcement/Compliance Communication Contact Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

| First Name | DUNCAN |
| --- | --- |
| Last Name | LAWTHER |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 (0) 20 7425 8834 |
| Email | DUNCAN.LAWTHER@MORGANSTANLEY.COM |

| First Name | GRAEME |
| --- | --- |
| Last Name | RUSSELL |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 (0) 207 677 2436 |
| Email | GRAEME.RUSSELL@MORGANSTANLEY.COM |

| First Name | MARK |
| --- | --- |
| Last Name | SIMMONS |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +442076775855 |
| Email | MARK.SIMMONS@MORGANSTANLEY.COM |

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-1.jpeg](img-1.jpeg)

## Membership Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

Indicate the category in which the Member intends to vote on NFA membership matters. SWAP DEALER

### U.S. Regulator Information

Is the firm currently regulated by any of the regulators listed below? No

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 1

![img-2.jpeg](img-2.jpeg)

## Membership Contact Information

Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC

### Membership Contact

| First Name | DUNCAN |
| --- | --- |
| Last Name | LAWTHER |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 (0) 20 7425 8834 |
| Email | DUNCAN.LAWTHER@MORGANSTANLEY.COM |

### Accounting Contact

| First Name | DUNCAN |
| --- | --- |
| Last Name | LAWTHER |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 20 7425 8834 |
| Email | DUNCAN.LAWTHER@MORGANSTANLEY.COM |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

Page 1 of 3

Firm Application (Form 7-R) Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC---

# Arbitration Contact

| First Name | MARK |
| --- | --- |
| Last Name | SIMMONS |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +442076775855 |
| Email | MARK.SIMMONS@MORGANSTANLEY.COM |

# Compliance Contact

| First Name | DUNCAN |
| --- | --- |
| Last Name | LAWTHER |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 (0) 20 7425 8834 |
| Email | DUNCAN.LAWTHER@MORGANSTANLEY.COM |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

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Firm Application (Form 7-R) Viewed on October 26, 2021

NFA ID 0238917 MORGAN STANLEY & CO INTERNATIONAL PLC---

# Chief Compliance Officer Contact

| First Name | GRAEME |
| --- | --- |
| Last Name | RUSSELL |
| Title | MR |
| Street Address 1 | 20 BANK STREET |
| Street Address 2 | CANARY WHARF |
| City | LONDON |
| Zip/Postal Code | E14 4AD |
| Country | UNITED KINGDOM |
| Phone | +44 (0) 20 7677 2436 |
| Email | GRAEME.RUSSELL@MORGANSTANLEY.COM |

---

OMB Numbers 3038-0023 (exp. September 30, 2023) & 3038-0072 (exp. September 30, 2023)

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**Attachment 2:** `msipopinioncounsel.pdf`

# CLEARY GOTTLIEB STEEN & HAMILTON LLP

NEW YORK
WASHINGTON, D.C.
PARIS
BRUSSELS
FRANKFURT
COLOGNE
MOSCOW

2 London Wall Place
London EC2Y 5AU
T: +44 20 7614 2200
F: +44 20 7600 1698
clearygottlieb.com

ROME
MILAN
HONG KONG
BEIJING
BUENOS AIRES
SÃO PAULO
ABU DHABI
SEOUL

October 28, 2021

To:

Morgan Stanley & Co. International Plc
25 Cabot Square
London, E14 4QA
United Kingdom

With a copy to:

United States Securities and Exchange Commission
SEC Headquarters
100 F Street
NE Washington, DC 20549-1090
United States of America

Re: SEC Registration as a Non-resident Security-based Swap Dealer

We have acted as special English counsel to Morgan Stanley & Co. International Plc (the “Firm”), an investment firm regulated by the United Kingdom (“UK”) Financial Conduct Authority (“FCA”) and the UK Prudential Regulation Authority (“PRA”) in connection with the Firm’s application to register with the United States (“U.S.”) Securities and Exchange Commission (“SEC” or the “Commission”) as a non-resident security-based swap (“SBS”) dealer (“SBSD”). In connection with such registration, we have been asked to analyze the following questions:

- (a) whether the Firm can, as a matter of English law, provide the SEC with prompt access to its UK Books and Records (as defined below);
- (b) whether the Firm can, as a matter of English law, submit to on-site inspection and examination by the SEC of its UK Books and Records in the UK; and
- (c) whether the Firm would be in breach of English law by submitting to on-site inspections and examination of its U.S. Books and Records (as defined below) by the SEC in the U.S.

This legal opinion is provided in order to satisfy the requirement in 17 C.F.R. § 15Fb2-4(c)(1)(ii).

For the purposes of this opinion letter:

Cleary Gottlieb Steen & Hamilton LLP is a Limited Liability Partnership registered in England and Wales Number OC310280. It is authorised and regulated by the Solicitors Regulation Authority. A list of the members and their professional qualifications is open to inspection at the registered office, 2 London Wall Place, London EC2Y 5AU. Cleary Gottlieb Steen & Hamilton LLP or an affiliated entity has an office in each of the cities listed above.

“Covered Books and Records” are only those books and records that:

(a) relate to the “U.S. business” (as defined in 17 C.F.R. § 240.3a71-3(a)(8)) of the Firm when acting as a non-resident SBSD, i.e., records that relate to an SBS transaction that is either:

(i) entered into, or offered to be entered into, by or on behalf of the Firm with a U.S. person (other than an SBS conducted through a foreign branch of such U.S. person); or

(ii) arranged, negotiated, or executed by personnel of the Firm located in a U.S. branch or office, or by personnel of an agent of the Firm located in a U.S. branch or office; or

(b) constitute financial records necessary for the SEC to assess the Firm’s compliance with the SEC’s margin and capital requirements, if applicable.

Additionally, books and records pertaining to SBS transactions entered into prior to the date that the Firm submits an application for registration are not Covered Books and Records.

“Relevant Books and Records” means the UK Books and Records and the U.S. Books and Records.

“UK Books and Records” are only those Covered Books and Records that are physically held or electronically stored in the UK.

“U.S. Books and Records” are only those Covered Books and Records that are physically held or electronically stored in the United States.

In arriving at our opinions below, we have reviewed:

(a) the Memorandum of Understanding signed between the FCA, the PRA and the SEC on July 30, 2021 (the “MoU”);1

(b) the administrative arrangement for the transfer of personal data between the SEC and the FCA signed on 29 April 2020 (the “Administrative Arrangement”);2

(c) the letter from the UK Information Commissioner’s Office (the “ICO”) to the SEC dated September 11, 2020 (the “ICO Letter”);3 and

(d) the SEC order granting conditional substituted compliance in connection with certain requirements applicable to non-U.S. security-based swap dealers and major

1 Memorandum of Understanding Concerning Consultation, Cooperation and the Exchange of Information Related to the Supervision and Oversight of Certain Cross-Border Over-the-Counter Derivatives Entities In Connection with the Use of Substituted Compliance by Such Entities, signed on 30 July 2021, available at https://www.fca.org.uk/publication/mou/sec-fca-boe-mou-2021.pdf.

2 Available at: https://www.sec.gov/files/FCA-SEC-AA-FINAL.pdf.

3 Available at: https://ico.org.uk/media/for-organisations/documents/2619110/sec-letter-20200911.pdf.

2

security-based swap participants subject to regulation in the United Kingdom, dated July 30, 2021$^{4}$.

In addition, we have made such investigations of law as we have deemed appropriate as a basis for the opinions expressed below.

## I. ASSUMPTIONS

In rendering our opinion statements below, we have assumed and not independently verified:

(a) the SEC’s requests for the Relevant Books and Records (as defined below) and on-site inspection and examination will be *intra vires*;

(b) the SEC will restrict its requests for, and use of, any information in the Relevant Books and Records or obtained in the course of its on-site inspection and examination, to only such information that it may lawfully request and process for (and that is strictly necessary for) its own legitimate regulatory purposes in respect of the Firm’s activities as a non-resident SBSD;

(c) the SEC will limit its requests in respect of personal data (as defined in Article 4(1) UK GDPR, “personal data”) included in the Relevant Books and Records to targeted requests based upon a risk-based assessment in respect of specific customers, employees and accounts$^{5}$;

(d) the SEC will maintain any information, data and documents obtained from the Firm in a secure manner and in compliance with all applicable U.S. laws of confidentiality and not share onwards any personal data obtained from the Firm other than in accordance with a lawful request of the U.S. Congress or a properly issued subpoena, or to other regulators who have demonstrated a need for the information and provided assurances of confidentiality;

(e) the Relevant Books and Records have been collected and maintained, and are and will be held, in accordance with the Data Protection Laws (as defined below) and English employment law relating to the processing of personal data of employees; in particular, the Firm and any relevant affiliates, as the case may be, have complied with all transparency requirements in respect of its processing of personal data by means of providing sufficiently detailed notices and information to its customers and employees and is otherwise complying with Data Protection Laws and employment law requirements relating to the processing of personal data of employees;

(f) the Firm or its relevant associated persons (including affiliates), as the case may be, have obtained all required consents and approvals of any affected persons required for the disclosure of the respective information in the UK Books and Records or the U.S. Books and Records, as the case may be, to, or to allow on-site inspection and examination by, the

$^{4}$ Available at: https://www.sec.gov/rules/other/2021/34-92529.pdf

$^{5}$ The ICO Letter states that the SEC has informed the ICO that: “it is the SEC’s practice to limit the type and amount of personal data it requests during examinations to targeted requests based on risk and related to specific clients and accounts, and employees. The requested information may include some limited criminal records data and ‘special category data’ under the GDPR”.

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SEC, in each case to the extent, as considered in this opinion letter, such consent or approval, as the case may be, is able to be validly given and such consent or approval has not been revoked;

(g) where the Firm is acting as controller (as defined in Article 4(7) UK GDPR, “controller”) with respect to any element of the Relevant Books and Records that constitutes personal data, the Firm will comply in all respects with all provisions of the Data Protection Laws and the Guidelines that are relevant in order for at least one of the conditions for transfer of data to a third country pursuant to Article 49 UK GDPR to be available to it; and where transfers of personal data are made to the SEC in the absence of an adequacy decision pursuant to Article 45(3) UK GDPR$^{6}$, such disclosure will be necessary for important reasons of public interest (under Article 49(1)(d) UK GDPR) in accordance with the ICO Letter;$^{7}$

(h) the Firm has neither permitted the private use of the Firm’s business e-mail accounts nor the use of private email accounts for business purposes by its employees, or the Firm has policies in place that regulate such use with sufficient separation;

(i) the Firm does not include the information described in 17 C.F.R. §§ 240.18a-5(b)(8)(i)(A) through (H) or 240.18a-5(a)(10)(i)(A) through (H), as the case may be, in questionnaires or applications for employment executed by an associated person who is not a U.S. person (as defined in 17 C.F.R. §240.3a71-3(a)(4)(i)(A)), unless the Firm is required to obtain such information under applicable law in the jurisdiction in which the associated person is employed or located or obtains such information in conducting a background check that is customary for the Firm in that jurisdiction and the creation or maintenance of records reflecting that information would not result in a violation of applicable law in the jurisdiction in which the associated person is employed or located; provided that the Firm does not know, or in the exercise of reasonable care should have known, of the statutory disqualification of such associated person;

(j) the Firm will keep the U.S. Books and Records in accordance with any applicable SEC requirements;

(k) the MoU is in full force and effect and no notice of termination has been sent pursuant to Article XI thereof;

$^{6}$ As supplemented by Section 17A UK DPA 2018.

$^{7}$ The ICO Letter provides support for the view that the Firm’s compliance with an SEC disclosure request might, on a case-by-case basis and subject to the qualifications in the ICO Letter, be considered by the ICO to be in the UK public interest since such disclosure helps to: (i) prevent UK financial crimes from being committed and (ii) prevent the commission in the U.S. of conduct that would amount to a UK financial crime. In the ICO’s assessment in the ICO Letter, the Financial Services and Markets Act 2000 (the “FSMA”) further demonstrates that there is a “UK public interest in UK-based firms not being used for the purposes of conduct overseas that would constitute a financial crime if committed in the UK.” In addition, compliance with the SEC’s request for disclosure and examination helps the Firm comply with Principle 11 of the FCA Handbook and the PRA’s Fundamental Rule 7, which require FCA- and PRA-regulated firms to deal with regulators worldwide in an open and cooperative way. The ICO Letter therefore supports the view that the relevant data transfers could be considered necessary for important reasons of public interest. However, the ICO Letter also makes clear the importance of complying with other UK GDPR obligations. In addition to relying on Article 49(1)(d) (if it can do so), the Firm also has to demonstrate a lawful basis under Article 6 UK GDPR for every instance it makes a disclosure or permits examination of the Relevant Books and Records by the SEC.

4

(l) the FCA, the PRA and the SEC (as applicable) will comply in all respects with all provisions of the UK MOU and Administrative Arrangement; and

(m) neither the contractual arrangements with its customers or within its own organisation (including any standard contractual clauses or other intragroup data transfer mechanism or protocol) nor any orders by, or other arrangements with, its regulators or other supervisory authorities (including the FCA or the PRA) prohibit the Firm from providing the SEC with prompt access to the UK Books and Records or to submit to on-site inspection and examination of the Relevant Books and Records by the SEC.

## II. OPINION STATEMENTS

Based upon the foregoing and subject to the assumptions in this letter and the following discussion and qualifications, it is our opinion that:

(a) the Firm can, as a matter of English law, provide the SEC with prompt access to its UK Books and Records;

(b) the Firm can, as a matter of English law, submit to on-site inspection and examination by the SEC of its UK Books and Records in the UK; and

(c) the Firm can, as a matter of English law, submit to on-site inspection and examination by the SEC of its U.S. Books and Records in the United States.

## III. DISCUSSION

### 1. Data Protection Law

The UK data protection regime is largely derived from European Union (“EU”) privacy and data protection laws retained in successor UK legislation after the UK’s withdrawal from the EU.

The primary law regulating the processing of personal data in the EU is the General Data Protection Regulation 2016/679 (the “GDPR”). The GDPR forms part of the UK’s “retained EU law” under (and as defined in) the European Union (Withdrawal) Act 2018 (“EUWA”). The UK version of the GDPR operates under the EUWA as amended by Schedule 1 to the Data Protection, Privacy and Electronic Communications (Amendments etc.) (EU Exit) Regulations 2019 (SI 2019/419) (“UK GDPR”), and sits alongside the UK Data Protection Act 2018 (“DPA 2018”), which contains provisions that serve to supplement (and in some cases, derogate from) the UK GDPR.

The UK GDPR and the DPA 2018 (together, the “Data Protection Laws”) will apply to the Firm’s disclosure of the Relevant Books and Records to the SEC to the extent that these comprise or contain personal data. Personal data is any data relating to an identified or identifiable living individual and may include information concerning the Firm’s employees, counterparties and customers.

As described in the ICO Letter, the UK GDPR “*provides a range of transfer tools and gateways*”$^{8}$ that permit in certain circumstances the transfer of personal data

$^{8}$ ICO Letter, page 3.

5

from entities, acting as controller or processor, in the UK such as the Firm to public authorities such as the SEC in the absence of an adequacy decision pursuant to Article 45(3) UK GDPR.$^{9}$ For instance, Article 46(1) UK GDPR provides that a UK-based entity may transfer personal data to a third country if the entity has provided “*appropriate safeguards, and on condition that enforceable data subject rights and effective legal remedies for data subjects are available*”. Furthermore, Article 49 UK GDPR provides that in the absence of an adequacy decision pursuant to Article 45(3) UK GDPR, or of appropriate safeguards pursuant to Article 46, a transfer or a set of transfers of personal data to a third country may take place based on one of the derogations enumerated in Article 49 UK GDPR, provided that all the conditions of such a derogation are met. Such conditions include:

(a) the data subject has explicitly consented to the proposed transfer, after having been informed of the possible risks of such transfers for the data subject due to the absence of an adequacy decision and appropriate safeguards;

(b) the transfer is necessary for the performance of a contract between the data subject and the controller or the implementation of pre-contractual measures taken at the data subject's request;

(c) the transfer is necessary for the conclusion or performance of a contract concluded in the interest of the data subject between the controller and another natural or legal person;

(d) the transfer is necessary for important reasons of public interest; and

(e) in case none of the above conditions are applicable, if the transfer is not repetitive, concerns only a limited number of data subjects, is necessary for the purposes of compelling legitimate interests pursued by the controller which are not overridden by the interests or rights and freedoms of the data subject, and the controller has assessed all the circumstances surrounding the data transfer and has on the basis of that assessment provided suitable safeguards with regard to the protection of personal data. The controller shall, in addition to providing the information referred to in Articles 13 and 14 UK GDPR, inform the data subject of the transfer and of the compelling legitimate interests pursued.

In addition, the European Data Protection Board (“EDPB”) has issued guidelines as to the scope and interpretation of Article 49 GDPR on derogations in the context of transfers of personal data to third countries (the “Guidelines”).$^{10}$

Given the absence as of the date hereof of an adequacy decision pursuant to Article 45(3) UK GDPR with respect to the United States, the Firm can provide access to the SEC to, and submit to onsite inspection by the SEC with respect to, elements of

$^{9}$ According to Article 44 UK GDPR, any transfer of personal data to third countries or international organizations must, in addition to complying with Chapter V UK GDPR, also meet the conditions of the other provisions of the UK GDPR

$^{10}$ EDPB’s Guidelines 2/2018 on derogations of Article 49 under Regulation 2016/679, adopted on 25 May 25 2018, available at: https://edpb.europa.eu/sites/edpb/files/files/file1/edpb_guidelines_2_2018_derogations_en.pdf.

6

Relevant Books and Records that constitute personal data only if the conditions of Article 46(1) UK GDPR or Article 49 UK GDPR (as interpreted by the Guidelines) are satisfied.

It will be the responsibility of the Firm as data controller to assess, on a case-by-case basis (as and when the SEC requires disclosure of or access to Relevant Books and Records that may contain personal data), which of the provisions of the Data Protection Laws may be relied on for the lawful disclosure to the SEC of personal data comprising or contained in the Relevant Books and Records. On the basis of and in reliance on the ICO’s position set out in the ICO Letter, in accordance with which the Firm may be able to rely on the derogation under Article 49(1)(d) UK GDPR to justify the transfer to the SEC of Relevant Books and Records containing personal data, we are of the view that, subject to our assumption in item (g) and the other assumptions and qualifications in this opinion letter, the provision of prompt access to and the submission to on-site inspection and examination of, the Relevant Books and Records, as the case may be, do not conflict with the applicable Data Protection Laws.

## 2. Duty of Confidentiality

Over the years, the English courts have recognized that confidential information may be subject to certain duties of confidentiality, including a general duty of confidentiality, and specific duties applying to banks and employers.$^{11}$

### a. Scope of duties

According to the case, *Coco v AN Clark (Engineers) Ltd* [1968] F.S.R. 415, two requirements are needed for the information to be protected under the general duty of confidentiality. Firstly, the information must have the “*necessary quality of confidence*”.$^{12}$ Secondly, the information must have been given in a situation which imposed an obligation of confidence.

(i) The necessary quality of confidence is defined as information which is not “*public property and public knowledge*”.$^{13}$ Given the information contained in the Relevant Books and Records is not publically available, it is likely to possess the requisite quality of confidence to the extent that the information relates to the Firm’s customers or employees and is not information owned by or relating to the Firm itself.

(ii) The information must have been communicated in a situation where an obligation of confidence was either expressly or impliedly imposed.$^{14}$ The court will consider whether the recipient of the information knew, or ought to have known, that there was a duty of confidentiality in relation to that information. Such duty confidentiality can be imposed by contract, implied by the circumstances of the disclosure, or implied by a special relationship between the parties.

$^{11}$ The following discussion is without prejudice to the discussion of the Data Protection Laws above.

$^{12}$ Megarry J in the *Coco v AN Clark (Engineers) Ltd* at 419 used the formulation first used by Lord Greene, M.R. in *Saltman Engineering Co Ltd v Campbell Engineering Co Ltd* [1948] 65 RPC 203, [1963] 3 All ER 413.

$^{13}$ *Saltman Engineering Co Ltd v Campbell Engineering Co Ltd* at 415.

$^{14}$ Megarry J in *Coco v AN Clark (Engineers) Ltd* at 420.

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If aspects of the information contained in the Relevant Books and Records relate to either customers or employees, this would likely imply that the Firm, as the recipient, either knew or ought to have known that the information was to be treated confidentially.

Under the banker’s duty of confidence established by *Tournier v National Provincial and Union Bank of England* [1924] 1 KB 461 (“Tournier”), banks, such as the Firm, must keep its customer’s affairs private. The scope of the banker’s duty of confidentiality is wide, and extends “at least to all the transactions that go through the account, and to the securities, if any, given in respect of the account”, “beyond the point when the account is closed, or cease[s] to be an active account”,15 and encompasses intra-bank disclosures within the same corporate group.16

In contrast, an employer’s duty of confidence17 is limited: the Firm will only be restricted in its use of information held in relation to its employees “where there is no reasonable and proper cause for the employer[’]s conduct and only then if the conduct is calculated to destroy or seriously damage the relationship of trust and confidence.”18

b. Exceptions

To bring a successful claim for breach of confidentiality, the legal or natural person to whom the duty of confidentiality is owed (the “Rights Holder”) must demonstrate that there has been an unauthorized use of confidential information to their detriment.19

Where Relevant Books and Records contain customer information, the Firm will only be able to disclose Relevant Books and Records containing confidential information in un-redacted form via one of the following exceptions established in *Tournier*:

(a) where the disclosure is made by the express or implied consent of the customer;
(b) under compulsion of law;
(c) where the disclosure is in the public interest; or
(d) where it is in the interests of the bank to make disclosure.

The general and employer’s duties of confidentiality are also subject to the exceptions in (a)20 to (c) above.

15 *Tournier* at 485.

16 *Bank of Tokyo Ltd v Karoon* [1987] 1 AC 45 at 54.

17 *Prout v British Gas Plc and Another* [1992] F.S.R. 478 at 482.

18 *Malik v Bank of Credit and Commerce International SA* [1998] A.C 20 at 53.

19 Megarry J in *Coco v AN Clark (Engineers) Ltd* at 421.

20 The availability of the exception in (a) in relation to the general duty of confidentiality was confirmed by *Arnold J in Primary Group (UK) Ltd v The Royal Bank of Scotland Plc* [2014] R.P.C. 26 at 246.

8

# i. *Consent*

Disclosure of confidential information is permissible where the Rights Holder has given their consent to the disclosure of their confidential information.

There is likely to be a high bar to meet when relying on implied consent. In *Turner v Royal Bank of Scotland Plc* [1999] 2 All E.R, it was decided that established market practice of sharing of customer information between banks did not amount to implied consent of the customer as the customer was not aware of this practice. To amount to implied consent, the practice under which disclosure is made must be “*notorious, certain and reasonable*”.$^{21}$

The ability to rely on implied consent in relation to customers will partly depend on what information is provided to customers when the Firm provides services in SBSs. If no information about the jurisdiction or regulators involved is provided, then the Firm would be placing reliance on the customer’s own understanding of regulatory obligations on banks, the U.S. nexus and the SEC’s role in these services, which may not necessarily be present. However, if customers are provided detailed information, such as the Firm’s cross-border activity in SBSs with the United States and oversight by the SEC, then the Firm is more likely to be able to rely on implied consent.

# ii. *Compulsion of law*

Disclosure of confidential information may be permitted when required by statutory law or court order.

However, this exception, as it relates to statutory obligations, is likely only available where the compulsion stems from UK statute$^{22}$ and, despite the existence of UK statutory provisions requiring the disclosure of information that would otherwise be confidential,$^{23}$ none are directly applicable to this situation.

Likewise, a U.S. court order is unlikely to be sufficient for this exception. *X AG and others v A bank* [1983] 2 All ER at 475 held that a subpoena requiring disclosure issued by a foreign court did not qualify as compulsion by law on the basis that “*[t]he fact is that confidentiality is not rendered illegal by a subpoena requiring disclosure, which is to be contrasted with some form of legislation to that end.*”

Finally, given that the MoU between the FCA, the PRA and the SEC lacks the authority of statute, it should not be relied upon by the Firm for the purpose of this exception.

$^{21}$ Sir Richard Scott VC at 670 quoting from *Chitty on Contracts* (27th edn, 1994), vol I, para 13-014.

$^{22}$ In *A and Others v B Bank (Governor and Company of the Bank of England intervening)* [1992] 3 WLR 705 it was held that there would be no breach of confidentiality where disclosure was ordered by a United Kingdom regulator (the Bank of England) who would then pass the information over to a foreign regulator (the U.S. Federal Reserve Board). However, it was the United Kingdom regulator’s compelling power under the Banking Act 1987, not that of the U.S. Federal Reserve Board, which was decisive.

$^{23}$ For example, under certain circumstances, a person may be required to produce documents or otherwise disclose information in accordance with the FCA’s and PRA’s powers under Part XI of the FSMA. In addition, under s.330 of the Proceeds of Crime Act 2002 it is an offence for someone in the regulated sector not to disclose knowledge or suspicion of money laundering activities as required by the legislation.

9

# iii. *Public interest*

The public interest exception requires a balance to be struck between the rights of the Rights Holders and the public interest in the SEC obtaining that confidential information.$^{24}$ The test to be applied involves considering whether in all the circumstances, it is in the public interest that the duty of confidence should be overridden.$^{25}$

Disclosure in the public interest has been narrowly construed by the English courts, and the burden is for the Firm to justify disclosure of confidential information.$^{26}$ In *Tournier*, it was suggested that national security concerns,$^{27}$ and disclosure in the interest of preventing fraud or crime would meet this criterion.$^{28}$

However, it has been held that public interest in effective regulation and supervision of banking institutions$^{29}$ outweighs the public interest in maintaining confidentiality, even without statutory compulsion.$^{30}$ In such instances, the weight of the claim for disclosure is greater when considering limited disclosure, such as to a relevant authority acting under its own duties of confidence, as opposed to public dissemination of information.$^{31}$

Disclosure to the SEC may aid the SEC’s supervisory mandate. This would likely be sufficient to establish a public interest in disclosure, as compliance with SEC Rules (i) helps to prevent UK financial crimes from being committed; and (ii) helps to prevent the commission in the U.S. of conduct that would amount to a UK financial crime. In addition, compliance with a request from the SEC for disclosure or examination helps the Firm comply with its obligations under the FCA’s Principle 11 and the PRA’s Fundamental Rule 7, as applicable, which require the Firm to “deal with its regulators$^{32}$ in an open and cooperative way...”.

For these reasons, it is likely that the Firm would be able to rely on this exception to the duties of confidence in permitting the SEC to access and examine its Relevant Books and Records.

$^{24}$ *AG v Guardian Newspapers (No 2) and Others* [1990] 1 A.C. 109 (known as *Spycatcher*) at 268.

$^{25}$ *Prince of Wales v Associated Newspapers Ltd (CA)* [2007] 3 WLR at 68.

$^{26}$ *Price Waterhouse v BCCI Holdings (Luxembourg) SA* [1992] BCLC 583 at 597.

$^{27}$ *Tournier* at 481 and 486.

$^{28}$ *Tournier* at 486.

$^{29}$ In *Pharaon v Bank of Credit and Commerce International SA* [1998] 4 All E.R. 455, it was held that a bank could comply with a foreign subpoena without breaching the duty of confidentiality on the basis of the public interest exception (this contrasts with the exception for compulsion of law, as discussed above).

$^{30}$ *Price Waterhouse v BCCI Holdings (Luxembourg) SA* [1992] BCLC 583 at 596 and 601. Although this case concerned disclosure by accountants, the court’s analysis applies equally to the duty of confidentiality owed by a bank.

$^{31}$ *AG v Guardian Newspapers (No 2) and Others* at 268.

$^{32}$ This is considered to include non-UK regulators (see the FCA’s Principles for Businesses (PRIN) 1.1.6G, which sets out that “Principle 11 (Relations with regulators) applies to world-wide activities; in considering whether to take regulatory action under Principle 11 in relation to cooperation with an overseas regulator, the FCA will have regard to the extent of, and limits to, the duties owed by the firm or other person to that regulator.”)

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# iv. *In the bank's interest*

In certain cases, confidential information that is subject to the banker’s duty of confidentiality may be disclosed where it is in the interests of the bank. This exception is not available for information that is subject to the general duty of confidentiality alone. However, we consider that this exception is available to information that is subject to both such duties, leaving only information that does not relate to customers (*e.g.*, information relating to employees) beyond the scope of this exception.

Although it is in the Firm’s interest to comply with the SEC’s requests, the case law indicates that a high bar exists to satisfy this exception. The qualification will most obviously cover the situation where a bank commences proceedings against its customer to recover an unpaid loan or overdraft facility and the bank has to disclose the extent of the customer’s liabilities in its claim.$^{33}$ However, in *XAG and others v A Bank*, Leggatt J held that it was not clearly in the defendant bank’s own interests to comply with a subpoena from New York, as the bank could not establish as a matter of fact that it would face any serious detriment for its failure to comply.$^{34}$ Accordingly, the bank’s own interest exception will be construed narrowly and the court will assess whether the bank’s own interests are genuinely threatened by non-disclosure.

In relation to the SEC’s requests, failure to comply may result in enforcement action and potentially the Firm’s inability to conduct SBS business in U.S. markets. Therefore, it is arguable that the Firm may face serious detriment for a failure to comply with the SEC’s requests.

However, to rely on this exception, the Firm must also balance its interests in complying with the SEC’s disclosure request against the competing interest of its customers in the banker’s duty of confidence being maintained, and the Firm must satisfy itself that those interests do not outweigh its own. This would require an assessment on a case-by-case basis. As each customer’s circumstances differ, this exception may not provide a consistent basis on which to provide information to the SEC in comparison to the public interest exception above.

In conclusion, as explored above, it is unlikely that the compulsion of law exception will be applicable. In relation to the banker’s duty of confidentiality, it may not be possible to rely on disclosure in the bank’s interest in all cases. However, the Firm should be able to rely on the public interest and, where available, consent exceptions to the duties of confidence in permitting the SEC to access and examine its Relevant Books and Records.

#### IV. QUALIFICATIONS

The opinion statements above are subject to the qualifications set out below:

(a) This opinion letter relates exclusively to (i) the access provided to the SEC to the UK Books and Records in respect of which, for purposes of the Data Protection Laws, the Firm is a data controller, and that are subject to English law; and (ii) on-site inspection and examination by the SEC of the UK Books and Records on the premises of the

$^{33}$ See *Tournier* at 473.

$^{34}$ *XAG and others v A bank* at 475.

11

Firm in the UK and the U.S. Books and Records on the premises of the Firm in the United States, as the case may be.

(b) This opinion letter is confined to legal matters, and we express no opinion as to any factual matters.

(c) This opinion letter may therefore only be relied upon under the condition that this opinion letter shall be governed by English law and construed in accordance with English rules of construction and that issues of interpretation of this opinion must be brought before an English court.

(d) The opinion statements set out above are limited to English law. We do not express any opinion as to, and have not made any investigation of, any law other than English law in force as at the date hereof and as applied according to published case law.

(e) The opinion statements set out above are based upon the ICO Letter and our understanding that the SEC, in its preliminary view, has been provided “*with adequate assurances*” by the FCA and the PRA that “*no law or policy would impede the ability of any entity that is directly supervised by the authority and that may register with the Commission to provide prompt access to the Commission to such entity’s books and records or to submit to onsite inspection or examination by the Commission*”$^{35}$. The opinion statements set out above are predicated on the ICO not significantly changing its proposed regulatory approach to the matters set out in the ICO Letter following the end of the transition period after the UK’s withdrawal from the EU.$^{36}$

(f) The opinion statements to the effect that the Firm “can”, as a matter of English law, take certain actions is not an expression of any opinion or a confirmation that it may (lawfully) do so in any given instance where the opportunity, or request, or requirement to do so arises. It is a fundamental part of this opinion that the Data Protection Laws stipulate certain legal bases on which such action *may* be taken, but the lawfulness of actually taking such action is subject to the scope and qualifications of the relevant legal basis (such as, in the case of processing on the bases of Articles 6(1)(e) and 6(1)(f) UK GDPR, a right of data subjects to object to the relevant processing$^{37}$) and other applicable provisions of the Data Protection Laws,$^{38}$ as set out in this opinion letter. Whether the requirements of (and qualifications to) the legal basis to be relied upon in a specific case are actually fulfilled, must be determined on a case-by-case basis by the Firm (as and when the SEC requires disclosure

$^{35}$ See Federal Register / Vol. 86, No. 149 / Friday, August 6, 2021 / Notices, p. 6 available at https://www.govinfo.gov/content/pkg/FR-2021-08-06/pdf/2021-16657.pdf.

$^{36}$ The ICO states to the SEC in the ICO Letter: “*The UK has left the European Union and is currently in a transition period when EU laws, including GDPR, continue to apply. At the end of this transition period on 1 January 2021 the UK GDPR will apply, which will contain very similar provisions. We do not anticipate any significant change to our approach to the application of the UK GDPR to the transfers of personal data by SEC regulated UK firms to you.*”

$^{37}$ UK GDPR Article 21(1).

$^{38}$ For instance, in the ICO Letter, the ICO states that: “*We would not find there to be a breach of the GDPR transfer rules if the firm provided evidence that it had carefully considered and appropriately applied the Art. 49.1(d) ‘public interest’ derogation.*” (emphasis added). The opinions expressed in this letter regarding Article 49(1)(d) are accordingly subject to the Firm’s compliance with these ICO requirements.

12

of or access to Relevant Books and Records that may contain personal data) after due and careful consideration.

(g) The opinions expressed herein are rendered on and as of the date hereof, and we assume no obligation to advise you (or any other person who may rely on this opinion letter in accordance with the paragraph above), or undertake any investigations, as to any legal developments or factual matters arising subsequent to the date hereof that might affect the opinions expressed herein. We acknowledge that SEC rules require a non-resident SBSD to re-certify within ninety days after any changes in the legal or regulatory framework that would impact the ability of the SBSD to provide, or the manner in which it would provide, prompt access to its books and records, or would impact the ability of the SEC to inspect and examine the SBSD. Upon such change of law, the SBSD will be required to submit a revised opinion describing how, as a matter of English law, the SBSD will continue to meet its obligations.

(h) The MoU is not a legally binding agreement and therefore that the SEC, the FCA and the PRA are not under a legal obligation to comply with its provisions.

## V. RELIANCE

This opinion letter is being furnished solely for the benefit of the Firm and is not to be relied on by, or furnished to, any other person or used, circulated, quoted or otherwise referred to for any other purpose, except that the Firm may submit this opinion letter to the SEC as part of its application to register as a non-resident SBSD. In authorizing the Firm to make this opinion letter available to the SEC for such purposes, we are not undertaking or assuming any duty or obligation to the SEC or establishing any lawyer-client relationship with it.

This opinion letter is limited to the matters expressly stated herein and does not extend to, and is not to be read as extended by implication to, any other matters.

Very truly yours,

CLEARY GOTTLIEB STEEN & HAMILTON LLP

By:

Sunil Gadhia, a Partner

13

**Attachment 3:** `q13amsipbooksrecords1.pdf`

**Morgan Stanley & Co. International plc**

**Form SBSE-A; Item 13-A**

**Supplemental Information**

Firm Name: Deloitte LLP

Address: Hill House, 1 Little New Street, London, EC4A 3TR

Effective date: 28th October 1986

Type: Auditor

In addition, the applicant makes use of firmwide arrangements whereby group service entities maintain systems infrastructure and corresponding records on behalf of other group operating entities.

**Attachment 4:** `q13bmsipcustodiansexch1.pdf`

# **Morgan Stanley & Co. International plc (MSIP)**

# **SBSE-A: Question 13b - Schedule B, Section II**

Arrangement under which such other person, firm or organization executes, trades, custodies, clears or settles on behalf of the applicant (including any SRO in which the applicant is a member)

Supplemental document listing all arrangements, including those already submitted in Schedule B of the SBSE-A form - for completeness

| Type | Firm Name | Firm Address | Effective Date |
| --- | --- | --- | --- |
| Central Clearing Counterparty | BME Clearing (Banco Mercado de Espana) | PLAZA DE LA LEALTAD, 1, Madrid, 28014, Spain | 08/08/2013 |
| Central Clearing Counterparty | Cassa di Compensazione e Garanzia S.p.A. (CCG) | VIA TOMACELLI 146, Rome, 00186, Italy | 03/05/2013 |
| Central Clearing Counterparty | European Commodity Clearing | AUGUSTUSPLATZ 9, Leipzig, Saxony, 04109, Germany | 22/04/2014 |
| Central Clearing Counterparty | Eurex Clearing AG | MERGENTHALERALLEE 61, Eschborn, Hesse, 65760, Germany | 11/12/2012 |
| Central Clearing Counterparty | European Central Counterparty N.V. | APOLLOLAAN 150, Amsterdam, Noord-Holland, 1077BG, Netherlands | 21/03/2013 |
| Central Clearing Counterparty | ICE Clear Europe Limited (ICE Clear Europe) | 60 CHISWELL STREET, MILTON GATE, London, EC1Y 4SA, United Kingdom | 06/12/2012 |
| Central Clearing Counterparty | LCH Ltd (London Clearing House) | ALDGATE HOUSE, 33 ALDGATE HIGH STREET, London, EC3N 1EA, United Kingdom | 17/09/2002 |
| Central Clearing Counterparty | LCH SA / LCH Clearnet SA / Banque Centrale de Compensation SA | 18 RUE DU QUATRE SEPTEMBRE, Paris, 75002, France | 10/05/2013 |
| Central Clearing Counterparty | LME Clear Ltd (London Metal Exchange) | 10 Finsbury Square, London, EC2A 1AJ, United Kingdom | 19/09/2014 |
| Central Clearing Counterparty | Nasdaq OMX Clearing AB (Sweden + various Nordic) | SE-105 78 STOCKHOLM, Stockholm, SE-105 78, Sweden | 20/08/2009 |
| affiliates through which we self settle | MORGAN STANLEY HONG KONG SECURITIES LIMITED | Unit 503 5/F The Executive Center, 2 Exchange Square, 8 Connaught Place, Central Hong Kong Hong Kong | 05/23/1991 |
| affiliates through which we self settle | MORGAN STANLEY MUFG SECURITIES CO., LTD. | 1-9-7 Otemachi Chiyoda-Ku Tokyo 100-8104 JAPAN | 05/01/1996 |
| affiliates through which we self settle | MORGAN STANLEY ASIA (SINGAPORE) SECURITIES PTE LTD. | 23 CHURCH ST. #16-01 CAPITAL SQUARE Singapore 049481 SINGAPORE | 11/21/1992 |
| affiliates through which we self settle | MORGAN STANLEY & CO. LLC | 1585 BROADWAY New York New York 10036 UNITED STATES | 13/02/1969 |
| affiliates through which we self settle | MORGAN STANLEY BANK AG | GROSSE GALLUSSTRASSE 18, Frankfurt, Hesse, 60312, GERMANY | 10/17/1986 |
| affiliates through which we self settle | MORGAN STANLEY CANADA LIMITED | 181 BAY ST SUITE 3700, P. O. BOX 776, Toronto, Ontario, M5J 2T3, CANADA | 09/24/1982 |
| Exchange | MEFF | Pfingstweidstrasse 110, 8005 Zürich Switzerland | Pre-2010 |
| Exchange | Nordic Growth Market | Börsenstraße 4, 70174 Stuttgart, Germany | 16/02/2015 |
| Exchange | Nordic Derivatives Exchange | Börsenstraße 4, 70174 Stuttgart, Germany | 16/02/2015 |
| Exchange | CBOE (formerly BATS-Chi-X Europe) | 11 Monument St. 5th Floor, London. EC3R 8AF, UK | 12/11/2008 |
| Exchange | CBOE Europe B.V. | 11 Monument St. 5th Floor, London. EC3R 8AF, UK | 07/02/2019 |
| Exchange | Deutsche Borse Xetra | The Cube, Mergenthalerallee 61, 65760 Eschborn, Germany | 01/10/1998 |
| Exchange | EUREX | The Cube, Mergenthalerallee 61, 65760 Eschborn, Germany | 29/05/1998 |
| Exchange | Eurex Repo | Eurex Repo GmbH, 60485 Frankfurt am Main, Germany | 16/01/2007 |
| Exchange | European Energy Exchange AG (EEX) | European Energy Exchange AG, Augustusplatz 9, 04109 Leipzig, DE | 11/11/2003 |
| Exchange | Euronext | Beursplein 5, 1012 JW Amsterdam | 23/06/2010 |
| Exchange | London Metal Exchange (LME) | 10 Finsbury Square, London EC2A 1AJ | 01/12/2017 |
| Exchange | ICE Futures Europe | 5th Floor, 60 Chiswell St, London EC1Y 4SA | 16/07/2003 |
| Exchange | London Stock Exchange | 10 Paternoster Sq., London EC4M 7LS | 1998 |

| Exchange | Borsa Italiana - Equity MTF Market | P.za degli Affari, 6, 20123 Milano MI, Italy | 29/11/2006 |
| --- | --- | --- | --- |
| Exchange | Borsa Italiana - IDEM | P.za degli Affari, 6, 20123 Milano MI, Italy | 29/11/2006 |
| Exchange | Nasdaq OMX Nordic Ltd (Copenhagen) | Nasdaq Woolgate Exchange 3rd Floor 25 Basinghall Street London EC2V 5HA | 31/10/2001 |
| Exchange | Nasdaq OMX Nordic Ltd (Norway) | Nasdaq Woolgate Exchange 3rd Floor 25 Basinghall Street London EC2V 5HA | 31/10/2001 |
| Exchange | Nasdaq OMX Nordic Ltd (Helsinki) | Nasdaq Woolgate Exchange 3rd Floor 25 Basinghall Street London EC2V 5HA | 31/10/2001 |
| Exchange | Nasdaq OMX Nordic Ltd (Stockholm) | Nasdaq Woolgate Exchange 3rd Floor 25 Basinghall Street London EC2V 5HA | 31/10/2001 |
| Exchange | Nasdaq Derivatives Markets (NDM) | Nasdaq Woolgate Exchange 3rd Floor 25 Basinghall Street London EC2V 5HA | 18/11/2009 |
| Exchange | Norexeco ASA | 8 Bouverie St, Temple, London EC4Y 8AX | 30/10/2018 |
| Exchange | SIX SWISS EXCHANGE | Pfingstweidstrasse 110, 8005 Zürich, Switzerland | 26/02/2013 |

**Attachment 5:** `q17msipforeignfinauths.pdf`

# **Morgan Stanley & Co. International plc (MSIP)**  
 **Schedule F - Section II Registration with Foreign Financial Regulatory Authorities**  
 **Supplemental Document listing all Authorities, including those already submitted in Schedule F for completeness**

| Authority Name | Authority Location |
| --- | --- |
| Commodity Futures Trading Commission (CFTC)/ National Futures Association (NFA) | Americas |
| Commodity Futures Trading Commission (CFTC)/ National Futures Association (NFA) | Americas |
| Australian Securities and Investments Commission (ASIC) | Australia |
| Oesterreichische Bundesfinanzierungsagentur (OeBFA) | Austria |
| Belgian Debt Agency (BDA) | Belgium |
| Financial Services and Markets Authority (FSMA) | Belgium |
| Ontario Securities Commission (OSC)Alberta Securities Commission (ASC)British Columbia Securities Commission | Canada |
| China Securities Regulatory Commission (CSRC) | China |
| People's Bank of China (PBOC) | China |
| Danish Financial Supervisory Authority (DFSA) | Denmark |
| Danmarks Nationalbank (DNB) | Denmark |
| Dubai Financial Services Authority (DFSA) | Dubai/DIFC/UAE |
| Financial Supervisory Authority (FSA) | Finland |
| Agency France Trésor (AFT) | France |
| Autorité des Marchés Financiers (AMF) | France |
| Deutsche Finanzagentur (DFA) | Germany |
| Public Debt Management Agency (PDMA) | Greece |
| Securities and Futures Commission (SFC) | Hong Kong |
| Securities and Futures Commission (SFC) | Hong Kong |
| Securities and Futures Commission (SFC) | Hong Kong |
| Euronext Dublin | Ireland |
| National Treasury Management Agency (NTMA) | Ireland |
| Israel Securities Authority (ISA) | Israel |
| Banca d'Italia (Bdl) | Italy |
| Commissione Nazionale per le Società e la Borsa (Consob) | Italy |
| Bank of Italy / Commissione Nazionale per le Società e la Borsa (Consob) | Italy |
| Financial Market Authority (FMA) | Liechtenstein |
| Commission de Surveillance du Secteur Financier (CSSF) | Luxembourg |
| Bursa Malaysia Berhad (BM) | Malaysia |
| Authority for the Financial Markets (AFM) | Netherlands |
| Financial Supervisory Authority of Norway (FSA) | Norway |
| IGCP | Portugal |
| Qatar Financial Centre Regulatory Authority (QFCRA) | QFC/Qatar |
| The Cyprus Securities and Exchange Commission (CySEC) | Republic of Cyprus |
| Capital Market Authority (CMA) | Saudi Arabia |
| Monetary Authority of Singapore (MAS) | Singapore |
| Monetary Authority of Singapore (MAS) | Singapore |
| Monetary Authority of Singapore (MAS) | Singapore |
| Financial Sector Conduct Authority (FSCA) | South Africa |
| Financial Supervisory Service (FSS) | South Korea |
| Financial Supervisory Service (FSS) | South Korea |
| Ministerio De Economía Y empresa (MEH) | Spain |
| Financial Supervisory Commission (FSC) | Taiwan |
| Securities and exchange commission, Thailand (SEC) | Thailand |
| Capital Markets Board of Turkey (CMB) | Turkey |
| Bank of England (BofE) / Prudential Regulation Authority (PRA) | United Kingdom |
| Financial Conduct Authority (FCA) | United Kingdom |
| ICE | United Kingdom |
| London Bullion Market Association (LBMA) | United Kingdom |
| Office of Gas and Electricity Markets (OFGEM) | United Kingdom |

| Panel on Takeovers and Mergers (PDTM) | United Kingdom |
| --- | --- |
| The State Bank of Vietnam (SBV) | Vietnam |
| The State Bank of Vietnam (SBV) | Vietnam |
| Financial Market Supervisory Authority (FINMA) | Zurich |
| Financial Market Supervisory Authority (FINMA) | Zurich |

**Attachment 6:** `msipsubmission.pdf`

# **Morgan Stanley & Co. International plc**
SBSE-A/A Submission

We have completed an SBSE-A/A submission due to changes in the Principal population for Morgan Stanley & Co. International Plc.

Principal amendments made:

- Addition of: David Cantillon
- Withdrawal of: David Russell

Documents re-submitted:

- Opinion Counsel
- Books & Records
- Custodian
- Foreign Financial Authority
- 7R

Any queries please contact karen.fenelon@morganstanley.com

Kind regards,

**Karen Fenelon Smith, Vice President**

Morgan Stanley | Legal and Compliance
20 Bank Street | Canary Wharf | Floor 10
London, E14 4AD
Phone: +44 20 7677-2414

Karen.Fenelon@morganstanley.com
www.morganstanley.com

## Form SBSE-A: Registration for Security-Based Swap Dealers

### Applicant Information

**Full Applicant Name:** MORGAN STANLEY & CO INTERNATIONAL PLC

**NFA Number:** 238917

**IRS Employer ID No.:** 98-0196143

**CIK:** 0000924186

**Main Address:** 25 CABOT SQUARE CANARY WHARF, LONDON, X0, E144QA

**Business Telephone:** 44 207 425 8000

**Contact Employee:**

- **Name:** Duncan Lawther

- **Title:** Vice President

- **Phone:** 44 207425 8834

- **Email:** duncan.lawther@morganstanley.com

**Chief Compliance Officer:**

- **Name:** Graeme Miller Russell

- **Title:** Chief Compliance Officer

- **Phone:** 44 207677 2436

- **Email:** graeme.russell@morganstanley.com

### Business and Activities

**Registered as Swap Dealer?:** Yes

**Registered as Swap Participant?:** No

**Uses Mathematical Models?:** Yes

**Is a Non-Resident Entity?:** No

**Subject to Prudential Regulator?:** No

**Is an Investment Advisor?:** No

**Engaged in Other Business?:** No

**Holds Customer Funds?:** Yes

**Description of Business:**
MSIP is Morgan Stanley's UK investment firm. Its services include capital raising; financial advisory services, including advice on mergers and acquisitions, restructurings, real estate and project finance; corporate lending; sales, trading, financing and market making activities in equity and fixed income securities and related products, including foreign exchange and commodities; and investment activities. MSIP currently operates branches in Seoul, Zurich, the Dubai International Financial Centre and the Qatar Financial Centre.

### Control and History

**Are records kept by another entity?:** Yes

**Does another entity hold funds on behalf of applicant?:** Yes

**Is control exercised through an agreement?:** No

**Is applicant financed by another entity?:** No

**Is applicant succeeding a prior entity?:** No

**Subject to foreign regulation?:** Yes

**Number of Principals:** 18

### Schedule A: Principals

| Name                         | Title or Status                              | Date Acquired   | Date Began Working   | Ownership   |   NFA ID No. |
|:---|:---|:---|:---|:---|---:|
| Clare Woodman                | Chief Executive Officer                      | 10/2018         | 02/2002              |  |       451781 |
| Arun Kohli                   | Chielf Operating Officer                     | 10/2016         | 04/2007              |  |       497125 |
| Aryasomayajula Sekhar        | Director                                     | 06/2020         | 04/2008              |  |       497125 |
| David Oliver Cannon          | Director                                     | 10/2013         | 06/2013              |  |       464242 |
| Graeme Miller Russell        | Chief Compliance Officer                     | 03/2013         | 05/2007              |  |       451783 |
| Henrik Gobel                 | Head of a Business Unit Division or Function | 03/2017         | 06/1999              |  |       502573 |
| Jonathan William Bloomer     | Director                                     | 11/2016         | 11/2016              |  |       500412 |
| Kim Maree Lazaroo            | Director                                     | 04/2019         | 10/2015              |  |       519562 |
| Noreen Philomena Whyte       | Director                                     | 06/2018         | 09/2005              |  |       478801 |
| Paul David Taylor            | Director                                     | 08/2020         | 08/2020              |  |       532536 |
| Salvatore Orlacchio          | Head Of A Business Unit Division or Function | 06/2020         | 02/1997              |  |       531190 |
| Terri Duhon                  | Director                                     | 06/2016         | 06/2016              |  |       495618 |
| Melanie Richards             | Director                                     | 07/2021         | 06/2021              |  |       541263 |
| Anthony Mullineaux           | Chief Financial Officer                      | 12/2021         | 12/2007              |  |       544899 |
| Peter Brian Traill Lee       | Head of BU, Division or Function             | 05/2022         | 11/2008              |  |       548137 |
| Megan Veronica Butler        | Director                                     | 10/2022         | 10/2022              |  |       552063 |
| Jane Elizabeth Osmani Pearce | Director                                     | 10/2022         | 10/2022              |  |       552066 |
| David Ernest John Cantillon  | Head Of A Business Unit Division or Function | 01/2023         | 04/2007              |  |       293075 |

### Schedule B: Explanations

**Records Keeper:**

- **Name:** Deloitte LLP

  - **Address:** Hill House, 1 Little New Street, London, X0, EC4A 3TR

  - **Effective Date:** 10-28-1986

  - **Arrangement:** —

**Onbehalf:**

- **Name:** BME Clearing (Banco Mercado de Espana)

  - **Address:** PLAZA DE LA LEALTAD, 1, Madrid, U3, 28014

  - **Effective Date:** 08-08-2013

  - **Arrangement:** —

- **Name:** Cassa di Compensazione e Garanzia S.p.A. (CCG)

  - **Address:** VIA TOMACELLI 146, Rome, L6, 00186

  - **Effective Date:** 05-03-2013

  - **Arrangement:** —

- **Name:** European Commodity Clearing

  - **Address:** AUGUSTUSPLATZ 9, Leipzig, Saxony, Saxony, 2M, 04109

  - **Effective Date:** 04-22-2014

  - **Arrangement:** —

- **Name:** Eurex Clearing AG

  - **Address:** MERGENTHALERALLEE 61, Eschborn, Hesse, 2M, 65760

  - **Effective Date:** 12-11-2012

  - **Arrangement:** —

### Execution

**Date:** 02-15-2023

**Name of Applicant:** MORGAN STANLEY & CO INTERNATIONAL PLC

**Signature:** Karen Fenelon Smith

**Printed Name:** Karen Fenelon Smith

**Title:** Compliance