Morgan Stanley 2014 Annual Report Download - page 2

ANNUAL REPORT ON FORM 10-K
for the year ended December 31, 2014
Table of Contents Page
Part I
Item 1. Business ..................................................................... 1
Overview .................................................................. 1
Available Information ........................................................ 1
Business Segments ........................................................... 2
Institutional Securities ........................................................ 2
Wealth Management ......................................................... 4
Investment Management ...................................................... 5
Competition ................................................................ 6
Supervision and Regulation .................................................... 7
Executive Officers of Morgan Stanley ............................................ 22
Item 1A. Risk Factors .................................................................. 24
Item 1B. Unresolved Staff Comments ..................................................... 35
Item 2. Properties .................................................................... 36
Item 3. Legal Proceedings ............................................................. 37
Item 4. Mine Safety Disclosures ........................................................ 49
Part II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities ............................................................ 50
Item 6. Selected Financial Data ......................................................... 53
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations .... 55
Introduction ................................................................ 55
Executive Summary .......................................................... 57
Business Segments ........................................................... 64
Accounting Developments Updates .............................................. 85
Other Matters ............................................................... 87
Critical Accounting Policies ................................................... 92
Liquidity and Capital Resources ................................................ 96
Item 7A. Quantitative and Qualitative Disclosures about Market Risk ............................ 123
Item 8. Financial Statements and Supplementary Data ....................................... 151
Report of Independent Registered Public Accounting Firm ........................... 151
Consolidated Statements of Financial Condition .................................... 152
Consolidated Statements of Income .............................................. 153
Consolidated Statements of Comprehensive Income ................................ 154
Consolidated Statements of Cash Flows .......................................... 155
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