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When navigating the complexities of managing securities accounts, individuals often seek ways to empower trusted agents to act on their behalf, especially when they cannot make decisions themselves. The Morgan Stanley Power Attorney form serves as a critical tool in this process, granting selected agents full discretionary authorization over the securities accounts of the principal. This document, designed for non-Morgan Stanley employees, allows appointed agents to buy, sell, and manage investments and assets with the same authority as the account holder. Morgan Stanley, however, emphasizes the serious nature of this authorization, underlining that it confers broad powers to the agent, including the selling, conveying, and encumbering of the principal’s property. It stands as a durable power of attorney, resilient even in the face of the principal’s disability, incapacity, or incompetency, reflecting the enduring trust placed in the agent. Nonetheless, principals retain the right to revoke this powerful document, safeguarding their interests. With such rights come responsibilities; agents are granted a wide range of capabilities, from transaction approval to leveraging lines of credit and managing securities, ensuring they can act in the account holder's best interests. This document also intricately details the legal bindings, including arbitration agreements and indemnity clauses, underpinning the relationship between the principal, the agent, and Morgan Stanley. It encapsulates a blend of empowerment, trust, and cautionary measures, illustrating the weight of granting someone the full discretionary authority over one's financial assets.

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For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

Durable Power of Attorney Security Account

Full Discretionary Authorization

(Non-Morgan Stanley Employee)

his authorization is a full discretionary authorization. It empowers the Agent named herein to withdraw money, securities or other property in his or her own name, in the name of the principal(s) or otherwise. Morgan Stanley policy does not permit its employees to exercise full discretionary authority.

WARNING

his is an important legal document. It creates a durable power of attorney. Before executing this document, you should know these important facts:

a)his document may provide the person you designate as your attorney-in-fact with broad powers to dispose, sell, convey and encumber your property.

b)hese powers will exist for an indeinite period of time and will continue to exist notwithstanding your subsequent disability, incompetency or incapacity.

c)You have the right to revoke or terminate this durable power of attorney by giving us written notice addressed to the branch oice servicing your account. Such revocation shall not afect your liability for any transaction initiated prior to our receipt of said evocation.

To: Morgan Stanley Smith Barney LLC and applicable ailiates (“MSSB”)

1. he undersigned hereby appoints:

AGENT’S NAME

 

for the following account (complete name of account)

 

,

as the undersigned’s Agent and attorney-in-fact (“Agent”), with full and unlimited power and authority to act for the undersigned in

 

all matters in connection with the undersigned’s account/accounts or any available lines of credit at MSSB or its ailiates, however

 

designated and whether presently open or hereafter opened. Without limiting the foregoing general authority, the Agent is authorized

 

to buy and sell (including short sales) to subscribe for and trade in stocks, bonds, options (including uncovered short positions in

 

option contracts or in the uncovering of any existing short position in option contracts), limited partnership interests, trust units and

 

any other securities and/or contracts relating to the same, on margin or otherwise, in accordance with MSSB terms and conditions for

 

the undersigned’s account and risk in the undersigned’s name or number on MSSB books. It is further understood that any transaction

 

may be efected with MSSB as a principal or dealer or through MSSB as agent or broker as a principal or dealer, and that any such

 

transactions may involve securities in the distribution of which MSSB or its agent or broker may have an interest as an underwriter,

 

member of a selling group, or otherwise.

 

2.Without limiting the general authority of the foregoing, the Agent is further authorized to (a) deliver to MSSB securities for the undersigned’s account(s), and instruct MSSB to deliver securities from said account(s) to said Agent or to others, in such name and form, including the name of said Agent, as he or she may direct; (b) to instruct MSSB to make payment of money from my account(s) or to draw against lines of credit at MSSB or ailiates and to receive and direct payments therefrom payable to said Agent or to others including payment for any investment advisory fees or Power of Attorney Agent fees; (c) to sell, assign, endorse and transfer securities of any nature standing in the undersigned’s name and to execute any documents necessary to efectuate the foregoing; (d) to receive statements of transactions made for said account(s) and to approve and conirm the same; (e) to receive any and all notices, calls for margin, or other demands with reference to the undersigned’s account(s) and to enter into any and all agreements with MSSB on my

FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

PAGE 1 OF 4

LACDPFULNAO

For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

behalf including the opening of additional accounts in my name. It is understood that pursuant to this authorization, the Agent may employ any electronic services provided by MSSB for which the undersigned has subscribed or for which the Agent has subscribed on the undersigned’s behalf, including but not limited to, on-line trading, bill paying, e-delivery and automatic funds transfer (AFT).

he undersigned agrees that the Agent will not be the sole recipient of statements and conirms for the undersigned’s account and that the undersigned or another authorized party who does not have trading authority over the account will receive duplicate conirms and statements for review.

his authorization does not give the Agent the authority to make gifts of funds or property but MSSB is under no duty to inquire into the nature of any instruction given by said Agent to deliver or transfer funds or property from the undersigned’s account(s).

3.In all matters relating to the undersigned’s account(s), MSSB is authorized to follow the instructions of the aforesaid Agent in every respect and MSSB shall be fully protected in relying upon said instructions without inquiry and without liability or accountability for the use or application of any securities or moneys delivered or paid pursuant to said instructions. he undersigned hereby agrees to release, indemnify and hold MSSB harmless from any and all liabilities that may arise by virtue of your following the instructions of said Agent and the undersigned hereby ratiies and conirms any and all transactions made with MSSB heretofore or hereafter made by such Agent. Any and all losses or debit balances due you arising from instructions or transaction given by said Agent shall be paid to MSSB promptly by the undersigned upon demand. If this authorization is connected to a retirement account it does not include the authority to change beneiciaries.

4.his authorization and indemnity is in addition to (and in no way limits or restricts) any rights which MSSB may have under any other agreement or agreements between the undersigned and MSSB.

5.To revoke this authorization, the undersigned hereby agrees to submit a written notice addressed to MSSB and delivered to the MSSB branch oice serving the account, but such revocation shall not afect any liability in any way resulting from transactions initiated prior to such revocation.

6.his authorization shall inure to the beneit of MSSB and of any successor entities or assigns and shall be binding on the undersigned’s heirs, successors or assigns.

7.Arbitration

he undersigned acknowledges that I have agreed to the arbitration provisions of the Client Agreement and that by appointing an Agent, that Agent will also be subject to those arbitration provisions.

8.his authorization and all the terms herein shall be governed and construed in accordance with the laws of the State of New York without giving efect to principles of conlict of laws and without regard for the principal(s) residence, domicile or place of execution. he statute of limitations applicable to any claim shall be that which would be applied by the courts of the state in which the undersigned resides or if the undersigned does not reside in the United States, the statute of limitations shall be that which would be applied by the courts in the state where the MSSB oice servicing the undersigned’s account(s) is located.

9.If any provision of this authorization is or becomes inconsistent with any applicable present or future law, rule or regulation, that provision will be deemed rescinded or modiied in order to comply with the relevant law, rule or regulation. All other provisions of this authorization will continue and remain in full force and efect.

10.his authorization shall not be afected by the subsequent disability, incapacity or incompetency of any of the undersigned nor by a lapse of time between its execution and exercise.

11.To induce any transfer agent or other third party to act hereunder, the undersigned hereby agrees that any transfer agent or other third party receiving a duly executed copy or facsimile of this instrument may act hereunder, and that revocation or termination hereof shall be inefective as to such transfer agent or other third party unless and until actual notice or knowledge of such revocation or termination shall have been received by such transfer agent or other third party. he undersigned for myself and for my heirs, executors, legal representatives and assigns, hereby agrees to indemnify and hold harmless any such transfer agent or third party from and against any and all claims that may arise against such transfer agent or other third party by reason of such transfer agent or third party having relied on this instrument.

12.he undersigned acknowledges receiving a copy of this authorization.

FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

PAGE 2 OF 4

LACDPFUL

For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

CLIENT’S SIGNATURE(S)

THIS AUTHORIZATION MUST BE SIGNED BEFORE A NOTARY PUBLIC

his authorization contains a predispute arbitration acknowledgement at paragraph 7 on page 2.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLIENT’S NAME (PRINT)

 

 

 

CLIENT'S SIGNATURE

 

 

 

 

 

 

 

DATE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLIENT’S NAME (PRINT)

 

 

 

CLIENT'S SIGNATURE

 

 

 

 

 

 

 

DATE

State of

 

 

 

 

 

SS

(SEAL)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

County of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

On this

 

 

day of

 

20

 

 

before me personally appeared

 

 

 

 

 

 

and

 

 

 

 

 

 

known to me to be the individual(s) described in and who

 

 

 

 

 

 

executed the above instrument, and acknowledged to me that he/she/they executed the same.

SIGNATURE OF NOTARY PUBLIC

he information which follows pertains to the AGENT:

AGENT’S NAME

A.Is Agent an INVESTMENT ADVISER registered with the SEC or a State? If Yes

Registered with the SEC

SEC NUMBER

Yes

No

Registered with a State

StateFile NumberEfective Date B. If Agent is a Registered Investment Adviser, disregard this Section B.

AGENT’S DATE OF BIRTH

AGENT’S HOME ADDRESS

CITY, STATE AND ZIP CODE

AGENT’S PRIMARY TELEPHONE NUMBER

AGENT’S ALTERNATE TELEPHONE NUMBER

AGENT’S EMAIL ADDRESS (OPTIONAL)

Investing Experience (Year Since) If no experience mark N/A:

EQUITIES FIXED-INCOME OPTIONS COMMODITIES

Are you or a member of your household ailiated with or employed by a broker-dealer?

Yes

No

If YES, you will need a written authorization from that broker/dealer to have trading authority over this account (NYSE 407 letter).

FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

PAGE 3 OF 4

LACDPFUL

For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

Agent Certiication:

Neither you nor any other person who has authority over the Account is or has been a Politically Exposed Person,1 also known as a senior foreign political igure or an immediate family member or close associate of a senior foreign political igure within the meaning of the U.S. Department of the Treasury’s Guidance on Enhanced Scrutiny for Transactions hat May Involve the Proceeds of Foreign Oicial Corruption and as referenced in the USA PATRIOT Act. In addition, you represent that neither you nor any other person who has authority over the Account is a corporation, business or other entity that is beneicially or majority owned or controlled by the senior foreign political igure. If you or any other authorized person on the Account is or has been such a igure, you agree to disclose that fact to MSSB and provide the necessary information required by law to open and/or to service this Account. You also represent that this Account will not be used for any transactions with, or for the beneit of, any person, entity or country that is the subject of any sanctions administered or enforced by the U.S. Treasury Department’s Oice of Foreign Assets Control (“OFAC”), including, but not limited to, any person, or entity designated on OFAC’s List of Specially Designated Nationals.

AGENT’S AGREEMENT AND AFFIDAVIT. THIS AGREEMENT AND AFFIDAVIT MUST BE SIGNED BEFORE A NOTARY PUBLIC

By signing below, I, the Agent for the principal(s) named herein, accept this appointment and agree to be bound by the terms of this authorization and the Client Agreement executed by the principal(s) including the provisions for arbitration of disputes. I also represent that the Agent certiications are true and accurate. Being irst duly sworn, I do hereby state that this authorization was executed by

the principal(s) at a time when he or she was legally competent to perform such act and that it has not been terminated by any means including voluntary revocation or death of the principal(s).

his authorization contains an arbitration acknowledgement at paragraph 7 on page 2.

NAME OF AGENT (PRINT)

 

SIGNATURE OF AGENT (INDIVIDUAL TO WHOM AUTHORIZATION IS GRANTED)

DATE

State of

 

 

 

 

 

SS

(SEAL)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

County of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subscribed and sworn to before me this

 

 

day of

 

20

 

 

before me personally

 

 

 

 

 

appeared

 

 

and

 

 

 

 

 

 

known to me to be the

 

 

 

 

 

 

 

 

individual(s) described in and who executed the above instrument, and acknowledged to me that he/she/they executed the same.

SIGNATURE OF NOTARY PUBLIC

For MSSB Internal Use Only

 

 

 

APPROVED BY BRANCH MANAGER

 

DATE

 

1  For   the purposes of this paragraph, a “Politically Exposed Person” is a current or former senior oficial in the executive, legislative, administrative, mili- tary or judicial branch of a foreign government (whether elected or not), a senior oficial of a major foreign political party, a senior executive of a foreign government-owned corporation or a corporation, business or other entity formed by, or for the beneit of, such a igure. The term “politically exposed person” includes a current or former senior foreign political igure’s “immediate family,” which includes, but is not limited to, parents, siblings, children and in-laws; “close associate,” which means a person who is widely and publicly known to maintain an unusually close relationship with a senior foreign political igure, including a person in a position to conduct substantial domestic and international inancial transactions on behalf of such igure. For a fuller discussion of the preceding terms and deinitions, see http://www.federalreserve.gov/boarddocs/srletters/2001/sr0103.htm.

© 2013 Morgan Stanley Smith Barney LLC. Member SIPC.

FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

 

PAGE 4 OF 4

LACDPFUL

NY CS 7319994 02/13

 

For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

Durable Power of Attorney Security Account

Full Discretionary Authorization

(Non-Morgan Stanley Employee)

his authorization is a full discretionary authorization. It empowers the Agent named herein to withdraw money, securities or other property in his or her own name, in the name of the principal(s) or otherwise. Morgan Stanley policy does not permit its employees to exercise full discretionary authority.

WARNING

his is an important legal document. It creates a durable power of attorney. Before executing this document, you should know these important facts:

a)his document may provide the person you designate as your attorney-in-fact with broad powers to dispose, sell, convey and encumber your property.

b)hese powers will exist for an indeinite period of time and will continue to exist notwithstanding your subsequent disability, incompetency or incapacity.

c)You have the right to revoke or terminate this durable power of attorney by giving us written notice addressed to the branch oice servicing your account. Such revocation shall not afect your liability for any transaction initiated prior to our receipt of said evocation.

To: Morgan Stanley Smith Barney LLC and applicable ailiates (“MSSB”)

1. he undersigned hereby appoints:

AGENT’S NAME

 

for the following account (complete name of account)

 

,

as the undersigned’s Agent and attorney-in-fact (“Agent”), with full and unlimited power and authority to act for the undersigned in

 

all matters in connection with the undersigned’s account/accounts or any available lines of credit at MSSB or its ailiates, however

 

designated and whether presently open or hereafter opened. Without limiting the foregoing general authority, the Agent is authorized

 

to buy and sell (including short sales) to subscribe for and trade in stocks, bonds, options (including uncovered short positions in

 

option contracts or in the uncovering of any existing short position in option contracts), limited partnership interests, trust units and

 

any other securities and/or contracts relating to the same, on margin or otherwise, in accordance with MSSB terms and conditions for

 

the undersigned’s account and risk in the undersigned’s name or number on MSSB books. It is further understood that any transaction

 

may be efected with MSSB as a principal or dealer or through MSSB as agent or broker as a principal or dealer, and that any such

 

transactions may involve securities in the distribution of which MSSB or its agent or broker may have an interest as an underwriter,

 

member of a selling group, or otherwise.

 

2.Without limiting the general authority of the foregoing, the Agent is further authorized to (a) deliver to MSSB securities for the undersigned’s account(s), and instruct MSSB to deliver securities from said account(s) to said Agent or to others, in such name and form, including the name of said Agent, as he or she may direct; (b) to instruct MSSB to make payment of money from my account(s) or to draw against lines of credit at MSSB or ailiates and to receive and direct payments therefrom payable to said Agent or to others including payment for any investment advisory fees or Power of Attorney Agent fees; (c) to sell, assign, endorse and transfer securities of any nature standing in the undersigned’s name and to execute any documents necessary to efectuate the foregoing; (d) to receive statements of transactions made for said account(s) and to approve and conirm the same; (e) to receive any and all notices, calls for margin, or other demands with reference to the undersigned’s account(s) and to enter into any and all agreements with MSSB on my

FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

PAGE 1 OF 4

LACDPFUL

CLIENT’S COPY—KEEP FOR YOUR RECORDS

 

For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

behalf including the opening of additional accounts in my name. It is understood that pursuant to this authorization, the Agent may employ any electronic services provided by MSSB for which the undersigned has subscribed or for which the Agent has subscribed on the undersigned’s behalf, including but not limited to, on-line trading, bill paying, e-delivery and automatic funds transfer (AFT).

he undersigned agrees that the Agent will not be the sole recipient of statements and conirms for the undersigned’s account and that the undersigned or another authorized party who does not have trading authority over the account will receive duplicate conirms and statements for review.

his authorization does not give the Agent the authority to make gifts of funds or property but MSSB is under no duty to inquire into the nature of any instruction given by said Agent to deliver or transfer funds or property from the undersigned’s account(s).

3.In all matters relating to the undersigned’s account(s), MSSB is authorized to follow the instructions of the aforesaid Agent in every respect and MSSB shall be fully protected in relying upon said instructions without inquiry and without liability or accountability for the use or application of any securities or moneys delivered or paid pursuant to said instructions. he undersigned hereby agrees to release, indemnify and hold MSSB harmless from any and all liabilities that may arise by virtue of your following the instructions of said Agent and the undersigned hereby ratiies and conirms any and all transactions made with MSSB heretofore or hereafter made by such Agent. Any and all losses or debit balances due you arising from instructions or transaction given by said Agent shall be paid to MSSB promptly by the undersigned upon demand. If this authorization is connected to a retirement account it does not include the authority to change beneiciaries.

4.his authorization and indemnity is in addition to (and in no way limits or restricts) any rights which MSSB may have under any other agreement or agreements between the undersigned and MSSB.

5.To revoke this authorization, the undersigned hereby agrees to submit a written notice addressed to MSSB and delivered to the MSSB branch oice serving the account, but such revocation shall not afect any liability in any way resulting from transactions initiated prior to such revocation.

6.his authorization shall inure to the beneit of MSSB and of any successor entities or assigns and shall be binding on the undersigned’s heirs, successors or assigns.

7.Arbitration

he undersigned acknowledges that I have agreed to the arbitration provisions of the Client Agreement and that by appointing an Agent, that Agent will also be subject to those arbitration provisions.

8.his authorization and all the terms herein shall be governed and construed in accordance with the laws of the State of New York without giving efect to principles of conlict of laws and without regard for the principal(s) residence, domicile or place of execution. he statute of limitations applicable to any claim shall be that which would be applied by the courts of the state in which the undersigned resides or if the undersigned does not reside in the United States, the statute of limitations shall be that which would be applied by the courts in the state where the MSSB oice servicing the undersigned’s account(s) is located.

9.If any provision of this authorization is or becomes inconsistent with any applicable present or future law, rule or regulation, that provision will be deemed rescinded or modiied in order to comply with the relevant law, rule or regulation. All other provisions of this authorization will continue and remain in full force and efect.

10.his authorization shall not be afected by the subsequent disability, incapacity or incompetency of any of the undersigned nor by a lapse of time between its execution and exercise.

11.To induce any transfer agent or other third party to act hereunder, the undersigned hereby agrees that any transfer agent or other third party receiving a duly executed copy or facsimile of this instrument may act hereunder, and that revocation or termination hereof shall be inefective as to such transfer agent or other third party unless and until actual notice or knowledge of such revocation or termination shall have been received by such transfer agent or other third party. he undersigned for myself and for my heirs, executors, legal representatives and assigns, hereby agrees to indemnify and hold harmless any such transfer agent or third party from and against any and all claims that may arise against such transfer agent or other third party by reason of such transfer agent or third party having relied on this instrument.

12.he undersigned acknowledges receiving a copy of this authorization.

FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

PAGE 2 OF 4

LACDPFUL

CLIENT’S COPY—KEEP FOR YOUR RECORDS

 

For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

CLIENT’S SIGNATURE(S)

THIS AUTHORIZATION MUST BE SIGNED BEFORE A NOTARY PUBLIC

his authorization contains a predispute arbitration acknowledgement at paragraph 7 on page 2.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLIENT’S NAME (PRINT)

 

 

 

CLIENT'S SIGNATURE

 

 

 

 

 

 

 

DATE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLIENT’S NAME (PRINT)

 

 

 

CLIENT'S SIGNATURE

 

 

 

 

 

 

 

DATE

State of

 

 

 

 

 

SS

(SEAL)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

County of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

On this

 

 

day of

 

20

 

 

before me personally appeared

 

 

 

 

 

 

and

 

 

 

 

 

 

known to me to be the individual(s) described in and who

 

 

 

 

 

 

executed the above instrument, and acknowledged to me that he/she/they executed the same.

SIGNATURE OF NOTARY PUBLIC

he information which follows pertains to the AGENT:

AGENT’S NAME

A.Is Agent an INVESTMENT ADVISER registered with the SEC or a State? If Yes

Registered with the SEC

SEC NUMBER

Yes

No

Registered with a State

StateFile NumberEfective Date B. If Agent is a Registered Investment Adviser, disregard this Section B.

AGENT’S DATE OF BIRTH

AGENT’S HOME ADDRESS

CITY, STATE AND ZIP CODE

AGENT’S PRIMARY TELEPHONE NUMBER

AGENT’S ALTERNATE TELEPHONE NUMBER

AGENT’S EMAIL ADDRESS (OPTIONAL)

Investing Experience (Year Since) If no experience mark N/A:

EQUITIES FIXED-INCOME OPTIONS COMMODITIES

Are you or a member of your household ailiated with or employed by a broker-dealer?

Yes

No

If YES, you will need a written authorization from that broker/dealer to have trading authority over this account (NYSE 407 letter).

FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

PAGE 3 OF 4

LACDPFUL

CLIENT’S COPY—KEEP FOR YOUR RECORDS

 

For Internal Use Only

Branch No.

Account No.

Financial Advisor No.

Agent Certiication:

Neither you nor any other person who has authority over the Account is or has been a Politically Exposed Person,1 also known as a senior foreign political igure or an immediate family member or close associate of a senior foreign political igure within the meaning of the U.S. Department of the Treasury’s Guidance on Enhanced Scrutiny for Transactions hat May Involve the Proceeds of Foreign Oicial Corruption and as referenced in the USA PATRIOT Act. In addition, you represent that neither you nor any other person who has authority over the Account is a corporation, business or other entity that is beneicially or majority owned or controlled by the senior foreign political igure. If you or any other authorized person on the Account is or has been such a igure, you agree to disclose that fact to MSSB and provide the necessary information required by law to open and/or to service this Account. You also represent that this Account will not be used for any transactions with, or for the beneit of, any person, entity or country that is the subject of any sanctions administered or enforced by the U.S. Treasury Department’s Oice of Foreign Assets Control (“OFAC”), including, but not limited to, any person, or entity designated on OFAC’s List of Specially Designated Nationals.

AGENT’S AGREEMENT AND AFFIDAVIT. THIS AGREEMENT AND AFFIDAVIT MUST BE SIGNED BEFORE A NOTARY PUBLIC

By signing below, I, the Agent for the principal(s) named herein, accept this appointment and agree to be bound by the terms of this authorization and the Client Agreement executed by the principal(s) including the provisions for arbitration of disputes. I also represent that the Agent certiications are true and accurate. Being irst duly sworn, I do hereby state that this authorization was executed by

the principal(s) at a time when he or she was legally competent to perform such act and that it has not been terminated by any means including voluntary revocation or death of the principal(s).

his authorization contains an arbitration acknowledgement at paragraph 7 on page 2.

NAME OF AGENT (PRINT)

 

SIGNATURE OF AGENT (INDIVIDUAL TO WHOM AUTHORIZATION IS GRANTED)

DATE

State of

 

 

 

 

 

SS

(SEAL)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

County of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subscribed and sworn to before me this

 

 

day of

 

20

 

 

before me personally

 

 

 

 

 

appeared

 

 

and

 

 

 

 

 

 

known to me to be the

 

 

 

 

 

 

 

 

individual(s) described in and who executed the above instrument, and acknowledged to me that he/she/they executed the same.

SIGNATURE OF NOTARY PUBLIC

For MSSB Internal Use Only

 

 

 

APPROVED BY BRANCH MANAGER

 

DATE

 

1  For   the purposes of this paragraph, a “Politically Exposed Person” is a current or former senior oficial in the executive, legislative, administrative, mili- tary or judicial branch of a foreign government (whether elected or not), a senior oficial of a major foreign political party, a senior executive of a foreign government-owned corporation or a corporation, business or other entity formed by, or for the beneit of, such a igure. The term “politically exposed person” includes a current or former senior foreign political igure’s “immediate family,” which includes, but is not limited to, parents, siblings, children and in-laws; “close associate,” which means a person who is widely and publicly known to maintain an unusually close relationship with a senior foreign political igure, including a person in a position to conduct substantial domestic and international inancial transactions on behalf of such igure. For a fuller discussion of the preceding terms and deinitions, see http://www.federalreserve.gov/boarddocs/srletters/2001/sr0103.htm.

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FULL DISCRETIONARY AUTHORIZATION NON-MORGAN STANLEY EMPLOYEE (02/2013)

PAGE 4 OF 4

NY CS 7319994 02/13

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Document Attributes

Fact Name Description
Document Purpose The form creates a durable power of attorney granting broad discretionary powers to the named agent, including the sale, disposal, and management of the principal's property.
Duration of Powers The powers granted will exist indefinitely and will continue despite the principal’s subsequent disability, incompetency, or incapacity.
Revocation Process The principal has the right to revoke or terminate the durable power of attorney by submitting written notice to Morgan Stanley Smith Barney LLC (MSSB) at the servicing branch office.
Agent's Powers The agent is granted full and unlimited power to manage the principal’s account/accounts or lines of credit at MSSB, including buying, selling, and trading various securities and investments.
Limitation for MSSB Employees Morgan Stanley policy prohibits its employees from exercising full discretionary authority under this form.
Additional Agent Authority Beyond trading, the agent can deliver and instruct MSSB to deliver securities, make and direct payments, sell and transfer securities in the principal's name, and receive transaction statements and notices.
MSSB Liability and Authorization MSSB is authorized to follow the agent’s instructions without inquiry and will be indemnified against liabilities arising from following these instructions.
Governing Law The authorization and its terms are governed and construed in accordance with the laws of the State of New York, without giving effect to principles of conflict of laws.
Arbitration Agreement The principal and agent agree to MSSB's arbitration provisions, subjecting disputes to arbitration.
Effect of Disability or Incapacity This authorization remains unaffected by any subsequent disability, incapacity, or incompetency of the principal, nor by any lapse of time between its execution and exercise.

How to Fill Out Morgan Stanley Power Attorney

Gaining the ability to manage someone else's financial account comes with significant responsibility and requires filling out the Morgan Stanley Power of Attorney form accurately. This document empowers an individual, named as the agent, to conduct various financial transactions on behalf of the principal—the person granting the authority. Such actions may include selling or buying securities, withdrawing funds, and even transferring assets, underlining the importance of clear and thorough completion of the form.

  1. Begin by carefully reading the introductory paragraphs on the first page. These sections detail the extent of authority being granted and the legal implications of the form.
  2. In the section titled "To: Morgan Stanley Smith Barney LLC," input the full legal name of the agent being appointed in the space provided after "the undersigned hereby appoints." This identifies who will have the discretionary power.
  3. Fill in the complete name of the account that the agent will have control over. This clearly defines the scope of the authorization.
  4. Proceed to fill out the "For Internal Use Only" sections at the top of each page, where it asks for the Branch No., Account No., and Financial Advisor No. If unknown, inquire with Morgan Stanley for these details to ensure proper handling of the form.
  5. Review the list of powers and responsibilities granted under this authorization to ensure understanding. This list covers everything from trading securities to withdrawing funds and even engaging in transactions with Morgan Stanley itself.
  6. If any additional instructions or limitations need to be specified beyond what is covered in the pre-printed text, attach a separate signed document outlining these conditions explicitly. However, note that any such additions may require legal review and approval by Morgan Stanley.
  7. At the end of the document, both the principal(s) and the agent need to sign and date the form in the presence of a Notary Public. Make sure all parties print their names clearly above their signatures for identification purposes.
  8. For the agent's section, complete all requested information, including whether the agent is a registered Investment Adviser, and provide contact details. This helps Morgan Stanley communicate effectively regarding the account.
  9. The agent must also sign the "AGENT’S AGREEMENT AND AFFIDAVIT," affirming the accuracy of statements made within the document and acknowledging the terms of the authorization.
  10. Once all sections are filled out and signatures are gathered, submit the form to the designated Morgan Stanley branch office for processing. Retain a copy for personal records.
  11. Remember, this authorization can be revoked by the principal at any time. Should there be a need to terminate the arrangement, a written notice must be submitted to Morgan Stanley as outlined within the document.

Completing the Morgan Stanley Power of Attorney form is a straightforward process if approached with due attention to detail. This legal document establishes a significant financial relationship between the principal and the agent; therefore, ensuring its accuracy and validity is paramount. Once submitted and approved, the agent will have the authority to manage the specified account(s) within the bounds and terms agreed upon, making accurate completion of this form critical.

More About Morgan Stanley Power Attorney

  1. What is the purpose of the Morgan Stanley Power of Attorney form?

    This form grants broad powers to a designated attorney-in-fact (Agent) to manage the principal's Morgan Stanley security account(s), including the authority to withdraw money, securities, or other property. These powers are durable, meaning they persist despite the principal's potential incapacity, disability, or incompetency.

  2. Who can be designated as an Agent under this Power of Attorney?

    Any individual who is not a Morgan Stanley employee can be appointed as the Agent, with the stipulation that they have full discretionary authority over the account in question. This includes buying, selling, and managing securities and other financial transactions on behalf of the principal.

  3. Are there any restrictions on the powers granted to the Agent?

    The document provides the Agent with extensive authority over the principal's account(s), including financial transactions and management decisions. However, it explicitly does not permit the Agent to make gifts of the principal’s funds or property, although Morgan Stanley is not obligated to monitor the purpose behind any transaction instruction from the Agent.

  4. How can the durable Power of Attorney be revoked?

    The principal can terminate this Power of Attorney at any time by providing written notice to Morgan Stanley, addressed to the branch office servicing their account. It's important to note that any transactions initiated by the Agent before Morgan Stanley's acknowledgment of the revocation are still considered valid.

  5. What legal protections are afforded to Morgan Stanley under this agreement?

    Morgan Stanley is indemnified against any liability arising from following the Agent's instructions as per this Power of Attorney. The firm is protected from claims related to their reliance on the Agent's actions without needing to verify the motive or implications of those actions.

  6. Is there an arbitration clause included in the Power of Attorney form?

    Yes, the document contains a predispute arbitration clause, which means that by signing this form, the principal agrees that any disputes related to the Power of Attorney or the account it governs will be resolved through arbitration, in accordance with the terms of the Client Agreement that also governs the account.

  7. Under which state's laws is the Power of Attorney governed?

    This document and all its provisions are governed by the laws of the State of New York, regardless of the principal's state of residence, domicile, or the state in which the document was executed.

  8. What happens if a provision in the Power of Attorney conflicts with laws or regulations?

    If any part of this authorization contradicts current or future applicable laws or regulations, that portion of the document will be deemed modified or rescinded to comply, while the rest of the agreement remains in full effect.

  9. How is the Power of Attorney executed?

    The principal must sign the document in the presence of a Notary Public to validate it. Additionally, the Agent must also acknowledge and accept their appointment by signing the document, again in the presence of a Notary Public, affirming they understand and agree to the terms laid out, including the arbitration clause.

Common mistakes

When filling out the Morgan Stanley Power of Attorney form, people often make the following mistakes, which can lead to misunderstandings or the misuse of their accounts. Ensuring accuracy and clarity while completing the form is paramount for the security and appropriate management of your assets.

  1. Not specifying the agent’s powers clearly: It is crucial to detail the exact powers granted to the agent, to prevent any unauthorized transactions or misinterpretations of authority.
  2. Overlooking the agent’s qualifications: Failing to thoroughly vet the agent’s credentials and experience can result in choosing someone unsuitable for managing your financial affairs.
  3. Ignoring the need for a third-party witness or notary: Neglecting the legal requirement for witnessing or notarization can invalidate the entire document.
  4. Omitting relevant account details: Incomplete account information can lead to administrative delays or the inability to execute intended transactions.
  5. Forgetting to plan for revocation: Not establishing a clear method for revoking the power of attorney leaves your financial accounts vulnerable if the relationship with the agent changes.
  6. Neglecting to name a successor agent: Without a designated successor, the account could become difficult to manage if the original agent can no longer serve.
  7. Assuming it grants authority over all financial affairs: This form specifically does not allow the agent to make gifts of your funds or property. Not understanding the document's limitations could lead to confusion about the agent's abilities.
  8. Failing to discuss it with the chosen agent: It’s essential that both parties have a clear understanding of the document’s implications, responsibilities, and the principal’s expectations.

By avoiding these common errors, you can ensure that your Morgan Stanley Power of Attorney form is completed accurately and reflects your intentions regarding the management of your financial affairs.

Documents used along the form

When managing financial matters, particularly with a focus on investment accounts like those held at Morgan Stanley, an individual might use a variety of legal documents in conjunction with the Morgan Stanley Power of Attorney (POA) form. Each of these documents plays a role in shaping the management and future of an individual's financial assets.

  • Client Account Agreement: This foundational document outlines the operational terms between the client and Morgan Stanley, detailing how the account is to be managed, fees associated with the account, and various scenarios under which the account could be altered or terminated. It serves as the primary contract into which the client enters with Morgan Stanley.
  • New Account Form: Required to establish an account, this document collects essential information about the client, including personal identification information, financial status, and investment objectives. It's critical for understanding what the client aims to achieve through their investment strategy.
  • Beneficiary Designation Form: Allows account holders to designate individuals or entities that will receive the assets within the account upon the account holder's death. It's an important element of estate planning, ensuring that assets are distributed according to the account holder's wishes.
  • Risk Disclosure Statement: Provides a detailed explanation of the risks associated with different types of investments managed through the account. It's crucial for ensuring that clients understand the potential for loss, as well as gain, in their investment decisions.

Collectively, these documents, along with the Morgan Stanley POA, create a framework for the management and disposition of an individual’s financial assets. They ensure that both the client and the financial institution understand their rights, responsibilities, and the potential outcomes of their financial decisions. Handling these documents with care and understanding their contents is fundamental to successful financial planning and asset management.

Similar forms

  • A General Power of Attorney form provides broad powers to the agent to act on the principal's behalf in a variety of matters, which is similar to the full discretionary authority granted to the agent within the Morgan Stanley Power of Attorney form to manage securities accounts and make financial decisions.

  • The Financial Power of Attorney allows an agent to handle financial transactions on behalf of the principal. Like the Morgan Stanley form, it includes authority to buy, sell, and manage investment assets, as well as withdraw and spend money.

  • A Healthcare Power of Attorney authorizes the agent to make medical decisions for the principal when they are unable to do so. Although it pertains to healthcare, not financial matters, the concept of empowering an agent to make critical decisions in certain circumstances parallels the structure of the Morgan Stanley document.

  • The Limited Power of Attorney gives the agent authority to act in specific matters or for a limited time. While the Morgan Stanley form provides broader authority than most limited forms, the premise of assigning an agent for specific account transactions aligns with the nature of a limited power of attorney.

  • A Durable Power of Attorney for Asset Management remains in effect even if the principal becomes incapacitated, similar to how the Morgan Stanley Power of Attorney continues notwithstanding the disability or incapacity of the principal.

  • An Estate Planning Power of Attorney often gives an agent authority to manage a wide range of estate-related tasks. It aligns with the Morgan Stanley form's emphasis on financial management and securities transactions, both of which may be crucial for estate planning purposes.

Dos and Don'ts

When filling out the Morgan Stanley Power of Attorney form, there are several dos and don'ts that you should keep in mind to ensure the process is completed accurately and effectively:

Do:

  1. Read the entire document carefully before signing. Understand the powers you are granting and the terms of the agreement.
  2. Ensure all information is accurate and complete, including the Agent’s Name, account details, and any other required information.
  3. Keep a copy of the signed form for your records, as noted on the document that the section marked "CLIENT’S COPY—KEEP FOR YOUR RECORDS" is intended for your personal recordkeeping.
  4. Have the form notarized as required, indicating the importance of the legal document and the necessity for formal witnessing of the signatures.

Don't:

  • Leave any sections incomplete. If a section does not apply, mark it accordingly rather than leaving it blank to avoid any confusion or the appearance of oversight.
  • Sign the document without a clear understanding of the powers being granted to the Agent. If necessary, consult with a legal or financial advisor for clarification.
  • Forget to update and notify Morgan Stanley of any changes to the power of attorney arrangement, such as revocation or amendment of the powers granted.
  • Overlook the importance of the statement requiring the Agent's agreement and affidavit to be notarized, ensuring that the Agent also acknowledges their responsibilities and the document's legality.

Misconceptions

Understanding legal documents can often be a daunting task. The Morgan Stanley Power of Attorney form is no exception, particularly due to its mixture of financial and legal terminology. Below are some common misconceptions associated with this form, demystified for clarity.

  • It's only for the wealthy: There's a common belief that Power of Attorney forms, especially those connected to investment firms like Morgan Stanley, are only useful or necessary for individuals with extensive assets. In reality, this form can be a crucial component of financial management and estate planning for anyone, regardless of their wealth.
  • Limited to Morgan Stanley employees: Despite what some might think, the full discretionary authorization explicitly excludes Morgan Stanley employees. This form allows non-employees to be designated as agents, empowering them to manage securities transactions and other account-related matters.
  • The form grants unrestricted power: While the Power of Attorney does grant broad powers, it's tailored specifically to the securities account and related financial transactions. It does not extend to non-financial personal matters or decisions outside of the account's scope.
  • It's irrevocable: Another common misconception is that once signed, this Power of Attorney cannot be revoked. On the contrary, the document clearly states the principal can terminate it by providing written notice to the servicing branch office.
  • The form only becomes effective upon the principal's incapacitation: Unlike some forms of Power of Attorney that are "springing" and take effect upon certain conditions, such as the principal’s incapacity, this authorization is effective immediately and continues irrespective of the principal’s capacity.
  • It doesn't include investment advice fees: The authorization explicitly allows the agent to instruct Morgan Stanley to make payments from the account for any investment advisory fees or Power of Attorney agent fees, countering any belief that financial management and related costs are not covered.
  • It also covers retirement accounts: While the form applies to securities accounts, it specifies that it doesn't grant the agent authority to change beneficiaries of retirement accounts, underlining the specificity and limitations of the powers granted.
  • It's a simple legal form without serious implications: This document is indeed a substantial legal agreement. It not only grants significant power over one's financial assets but also includes an indemnity clause, arbitration agreement, and is governed by the laws of New York State, highlighting its complexity and the importance of understanding its contents fully before execution.

Dispelling these misconceptions clarifies the nature of the Morgan Stanley Power of Attorney form, underscoring its significance in financial planning and the necessity of considering its implications carefully.

Key takeaways

Understanding the Morgan Stanley Power of Attorney (POA) form is crucial for anyone considering granting someone else the authority to manage their financial affairs. Here are the key takeaways:

  • The Morgan Stanley POA grants an agent full discretionary authority, allowing them to withdraw and manage funds, securities, or other properties on behalf of the principal.
  • Morgan Stanley employees are not permitted to be designated as agents under this full discretionary authority.
  • This document is legally binding and durable, meaning it remains in effect indefinitely, including during periods of the principal’s disability, incompetency, or incapacity.
  • The principal retains the right to revoke the POA at any time by providing written notice to the servicing branch office.
  • The agent gains broad powers, including the ability to buy, sell, assign, and transfer securities, manage account payments, and subscribe for new securities on behalf of the principal.
  • Despite the extensive authority granted, the POA specifically excludes the power to make gifts from the principal's accounts, although Morgan Stanley is not obligated to verify the nature of transactions directed by the agent.
  • Morgan Stanley is authorized to follow the agent's instructions without liability, assuming the instructions are believed to be genuine.
  • Any disputes arising from the use of the POA are subject to arbitration as per the client agreement's arbitration provisions.
  • The authorization remains effective regardless of the principal's subsequent disability or incapacity and is binding on their heirs and successors.
  • The agent's responsibilities and obligations, along with the principal's acknowledgments, must be clearly understood and agreed upon before the document is executed and notarized.

In conclusion, appointing an agent through the Morgan Stanley Power of Attorney form is a significant decision that should be carefully considered. Principals should ensure they fully understand the extent of the authority they are granting and the conditions under which it can be exercised or revoked.

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