eTrade 2008 Annual Report Download - page 8

See Note 24—Segment and Geographic Information of Item 8. Financial Statements and Supplementary
Data for detailed information on non-U.S. geographic locations.
REGULATION
Our business is subject to regulation by U.S. federal and state regulatory agencies and securities exchanges
and by various non-U.S. governmental agencies or regulatory bodies, securities exchanges and central banks,
each of which has been charged with the protection of the financial markets and the protection of the interests of
those participating in those markets. In light of the current conditions in the global financial markets and the
global economy, regulators have increased their focus on the regulation of the financial services industry.
Substantial regulatory and legislative initiatives, including a comprehensive overhaul of the regulatory system in
the U.S., is possible in future periods. Any such action could have a materially adverse effect on our business,
financial condition and results of operations.
Our regulators in the U.S. include, among others, the Securities and Exchange Commission (“SEC”), the
Financial Industry Regulatory Authority (“FINRA”), the New York Stock Exchange (“NYSE”), the National
Association of Securities Dealers Automated Quotations (“NASDAQ”), the FDIC, the Federal Reserve, the
Municipal Securities Rulemaking Board and the Office of Thrift Supervision (“OTS”). Additional legislation,
regulations and rulemaking may directly affect our manner of operation and profitability. Our broker-dealers are
registered with the SEC and are subject to regulation by the SEC and by self-regulatory organizations, such as the
NYSE, the NASDAQ, FINRA and the securities exchanges of which each is a member, as well as various state
regulators. Our banking entities are subject to regulation, supervision and examination by the OTS, the Federal
Reserve and also, in the case of the Bank, the FDIC. Such regulation covers all aspects of the banking business,
including lending practices, safeguarding deposits, capital structure, transactions with affiliates and conduct and
qualifications of personnel. Our international broker-dealers are regulated by their respective local regulators
such as the Financial Services Authority (“FSA”), and Securities & Futures Commission. For additional
regulatory information, see Note 21—Regulatory Requirements of Item 8. Financial Statements and
Supplementary Data beginning on page 143.
We make our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K,
and amendments to those reports, available free of charge at our website as soon as reasonably practicable after
they have been filed with the SEC. Our website address is www.etrade.com.
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