eTrade 2002 Annual Report Download - page 77
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Table of Contents
Index to Financial Statements
We must be able to quickly introduce new products and services in order to attract new customers and remain competitive
Our future profitability depends significantly on our ability to develop, maintain and enhance our products, services and technology. There are
significant challenges to such development, maintenance and enhancement, including:
•
effectively using new technologies;
•
effectively ensuring that the technologies we utilize are, and remain, stable and secure;
•
adapting our products and services to meet emerging industry standards; and
•
developing, introducing and marketing new products and services to meet and create customer demand.
We rely heavily on technology to deliver products and services
Disruptions to or instability of our technology, including an actual or perceived breach of the security of our technology, could harm our
business and our reputation.
Our international efforts subject us to additional risks and regulation, which could impair our business growth
One component of our strategy is an increased effort to build our international business. To date, we have limited experience in providing retail
brokerage and banking services internationally. There can be no assurance that our branded products and services will be successful in
international markets.
In order to expand our services globally, we must comply with the regulatory controls of each specific country in which we conduct business.
We intend to rely primarily on our joint venture partners and/or licensees and our subsidiaries for regulatory compliance in foreign
jurisdictions. We have limited control over the management and direction of these venture partners and/or licensees, and their action or
inaction, including their failure to follow proper practices with respect to regulatory compliance and/or corporate governance, could harm our
operations and/or our reputation.
In addition, there are certain risks inherent in doing business in international markets, particularly in the heavily regulated brokerage and
banking industries, such as:
•
unexpected changes in regulatory requirements and trade barriers;
•
difficulties in staffing and managing foreign operations;
•
the level of investor interest in cross-border trading;
2003. EDGAR Online, Inc.