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Menkul Degerler AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (DIFC): Merrill Lynch International (DIFC Branch), regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.A.S.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (
Page: HOUSE_OVERSIGHT_016194 →curities, Moscow, regulated by the Central Bank of the Russian Federation; Merrill Lynch (Turkey |.B.): Merrill Lynch Yatirim Bank A.S., regulated by the Capital Markets Board of Turkey; Merrill Lynch (Turkey Broker): Merrill Lynch Menkul Degerler AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (DIFC): Merrill Ly
Page: HOUSE_OVERSIGHT_016194 →MS_Print Design_North America Insight English
vestors only. The information in Morgan Stanley Research is being communicated by Morgan Stanley & Co. International plc (DIFC Branch), regulated by the Dubai Financial Services Authority (the DFSA), and is directed at Professional Clients only, as defined by the DFSA. The financial products or financial services to which this researc
Page: HOUSE_OVERSIGHT_025586 →nd is directed at business customers and market counterparties only and is not intended for Retail Customers as defined by the QFCRA. As required by the Capital Markets Board of Turkey, investment information, comments and recommendations stated here, are not within the scope of investment advisory activity. Investment advisory serv
Page: HOUSE_OVERSIGHT_025586 →h Menkul Degerler AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (DIFC): Merrill Lynch Intemational (DIFC Branch), regulated by the Dubai Financial Services Authority (DFSA); Merrill Lynch (Spain): Merrill Lynch Capital Markets Espana, S.AS.V., regulated by Comisién Nacional del Mercado De Valores; Merrill Lynch (B
Page: HOUSE_OVERSIGHT_026002 →ecurities, Moscow, regulated by the Central Bank of the Russian Federation; Merrill Lynch (Turkey I.B.}: Merrill Lynch Yatirim Bank AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (Turkey Broker}: Merrill Lynch Menkul Degerler AS., regulated by the Capital Markets Board of Turkey; Merrill Lynch (DIFC): Merrill Ly
Page: HOUSE_OVERSIGHT_026002 →Entities connected to both the Dubai Financial Services Authority and the Capital Markets Board of Turkey

Frankfurt
LOCATION
United Kingdom
LOCATIONBaFin
ORGANIZATION
Seoul
LOCATIONThe Monetary Authority of Singapore
ORGANIZATION
Donald Trump
PERSONthe Capital Market Authority
ORGANIZATION
the Financial Services Agency
ORGANIZATIONMerchant Bank
ORGANIZATION
Merrill Lynch
ORGANIZATIONThe Financial Service Board
ORGANIZATIONMerrill Lynch Canada Inc
ORGANIZATIONBank of America Merrill Lynch International Limited
ORGANIZATIONMerrill Lynch International Bank Limited
ORGANIZATION
Bank of America
ORGANIZATION
Merrill Lynch Global Wealth Management
ORGANIZATIONPierce, Fenner & Smith Incorporated
ORGANIZATIONMerrill Lynch KSA Company
ORGANIZATIONMerrill Lynch International
ORGANIZATIONthe Central Bank of Ireland
ORGANIZATION