Morgan Stanley 2014 Annual Report Download - page 154
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Company has established procedures to mitigate the risk that a counterparty’s performance obligations will be
unenforceable, including consideration of counterparty legal authority and capacity, adequacy of legal
documentation, the permissibility of a transaction under applicable law and whether applicable bankruptcy or
insolvency laws limit or alter contractual remedies. The legal and regulatory focus on the financial services and
banking industry presents a continuing business challenge for the Company.
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