Morgan Stanley 2009 Annual Report Download - page 2

ANNUAL REPORT ON FORM 10-K
for the year ended December 31, 2009
Table of Contents Page
Part I
Item 1. Business ...................................................................... 1
Overview ................................................................... 1
Available Information ......................................................... 1
Business Segments ............................................................ 2
Institutional Securities ......................................................... 2
Global Wealth Management Group ............................................... 5
Asset Management ............................................................ 6
Research .................................................................... 7
Competition ................................................................. 7
Supervision and Regulation ..................................................... 8
Executive Officers of Morgan Stanley ............................................ 15
Item 1A. Risk Factors ................................................................... 17
Item 1B. Unresolved Staff Comments ...................................................... 25
Item 2. Properties ..................................................................... 26
Item 3. Legal Proceedings .............................................................. 27
Item 4. Submission of Matters to a Vote of Security Holders ................................... 29
Part II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities ............................................................. 30
Item 6. Selected Financial Data .......................................................... 33
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ..... 35
Introduction ................................................................. 35
Executive Summary ........................................................... 37
Certain Factors Affecting Results of Operations ..................................... 44
Equity Capital-Related Transactions .............................................. 46
Business Segments ............................................................ 47
Accounting Developments ...................................................... 64
Regulatory Outlook ........................................................... 64
Other Matters ................................................................ 66
Critical Accounting Policies .................................................... 68
Liquidity and Capital Resources ................................................. 74
Item 7A. Quantitative and Qualitative Disclosures about Market Risk ............................. 89
Item 8. Financial Statements and Supplementary Data ........................................ 112
Report of Independent Registered Public Accounting Firm ............................ 112
Consolidated Statements of Financial Condition ..................................... 113
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