FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2021069330101 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Morgan Stanley & Co LLC (Respondent) Member Firm CRD No. 8209 Pursuant to FINRA Rule 9216, Respondent Morgan Stanley & Co LLC submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.