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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>As filed with the Securities and Exchange Commission on August 5, 2022.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No. ____</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>Washington, D.C. 20549<BR>
_____________________</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES ACT OF 1933<BR>
<FONT STYLE="font-size: 10pt">_____________________</FONT></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><B>MORGAN STANLEY</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Delaware</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">incorporation or organization)</P></TD>
    <TD STYLE="width: 34%; padding: 0.25pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 33%; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>36-3145972</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(I.R.S. Employer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Identification No.)</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1585 Broadway</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>New York, NY 10036</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">(Address of principal executive offices, including
zip code)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Morgan Stanley Compensation Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">(Full title of the plan)<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Martin M. Cohen, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Counsel and Corporate Secretary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Morgan Stanley</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1585 Broadway</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>New York, New York 10036</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(212) 761-4000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">(Name, address and telephone number of agent
for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>With a copy to:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Gillian Emmett Moldowan, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Shearman &amp; Sterling LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>599 Lexington Avenue New York, NY 10022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(212) 848-4000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &ldquo;large
accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo;
in Rule&nbsp;12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 71%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Large accelerated filer <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9746;</FONT></FONT></TD>
    <TD STYLE="width: 28%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT> (Do not check if a smaller reporting company) </FONT></TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Emerging growth company <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">&#9744;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>PART I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt"><B>Item 1. Plan Information.</B></FONT><B><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B>Item 2. Registrant Information and Employee
Plan Annual Information.</B></FONT><B><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* Information required by Part I to be contained in the Section 10(a) prospectus
is omitted from this registration statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) in accordance with Rule 428 under
the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), and the &ldquo;Note&rdquo; to Part I of Form S-8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 3. Incorporation of Documents by Reference.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following documents filed with the Securities
and Exchange Commission (the &ldquo;Commission&rdquo;) are incorporated as of their respective dates in this Registration Statement by
reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">(a) &nbsp;the Registrant&rsquo;s
Annual Report on Form 10-K for the year ended December 31, 2021 (the &ldquo;Form 10-K&rdquo;) that contains audited financial statements
for the registrant&rsquo;s latest fiscal year for which such statements have been filed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">(b) &nbsp;the Registrant&rsquo;s
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">(c) &nbsp;the Registrant&rsquo;s
Current Reports on Form 8-K dated January 18, 2022, January 19, 2022 (to the extent deemed filed), January 21, 2022, April 14, 2022, May
27, 2022, June 27, 2022,  July 14, 2022 and August 2, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, all documents that the Registrant
files pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date of this Registration Statement and prior to the
filing of a post-effective amendment that indicates that all of the securities offered hereby have been sold, or which deregisters all
securities then remaining unsold shall be deemed to be incorporated herein by reference and to be a part hereof from the date of filing
of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the extent that a statement incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 4. Description of Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under the Morgan Stanley Compensation Incentive
Plan, as amended and restated (the &ldquo;Plan&rdquo;), the Registrant may provide eligible employees with awards of deferred cash compensation.
The obligations of the Registrant under the Plan (the &ldquo;Obligations&rdquo;) to a participating employee (a &ldquo;Participant&rdquo;)
represent at all times an unfunded, contingent and unsecured contractual obligation of the Registrant to pay the Obligations in the future
in accordance with the terms of the Plan. Each Participant is an unsecured general creditor of the Registrant with respect to all Obligations
and will rank pari passu with other unsecured and unsubordinated indebtedness of the Registrant from time to time outstanding. In addition,
the rights of Participants in the Plan are subject to the prior claims of creditors of the Registrant&rsquo;s subsidiaries. Obligations
shall be satisfied solely out of the general assets of the Registrant, subject to the claims of its creditors. A Participant will not
have any interest in any fund or in any specific asset of the Registrant of any kind by reason of any amount credited to the Participant
under the Plan, nor will a Participant have any right to receive any distribution under the Plan except as, and to the extent, expressly
provided in the Plan document or the award certificate evidencing the Obligation. The Registrant will not segregate any funds or assets
to provide for the Obligations or issue any notes or securities for the payment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The amount of compensation to be awarded to
or deferred by each Participant will be determined in accordance with the terms of the Plan. Each Obligation will be payable on a date
in the future in accordance with the terms of the Plan. The Obligations will be indexed to one or more notional investment options available
under the Plan. Each Participant&rsquo;s Obligation will be adjusted to reflect the investment experience, whether positive or negative,
and the fees and costs of the selected notional investment options, including any appreciation or depreciation and any Plan administration
fees. The value of Obligations held by a Participant is subject to risk at all times based upon the performance of the notional investment
options and based upon currency fluctuation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The administrator of the Plan will determine
the vesting schedule, as well as any other restrictions, applicable to the Obligations held by a Participant (which may include, without
limitation, the effects of termination of employment and cancellation of the Obligations under specified circumstances). The administrator
may also establish other terms and conditions applicable to the Obligations, including, without limitation, the consequences of a Participant&rsquo;s
death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A Participant may not assign, sell, garnish,
transfer, pledge or encumber the Participant&rsquo;s interests in the Plan, except by a written designation of a beneficiary under the
Plan, by written will or by the laws of descent and distribution. The Obligations are not convertible into another security of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Registrant reserves the right to alter,
amend or modify the Plan, any program under the Plan or any of the award documents under the Plan at any time in its sole discretion.
The Registrant may not amend or modify the Plan in a manner that would materially impair a Participant&rsquo;s rights, if any, in the
Participant&rsquo;s Obligations without the Participant&rsquo;s consent; provided, however, that the Registrant may, without a Participant&rsquo;s
consent, amend or modify the Plan in any manner that the Registrant considers necessary or advisable to comply with any applicable law,
regulation, ruling, judicial decision, accounting standards, regulatory guidance or other legal requirement or to ensure that neither
the entirety nor any part of a Participant&rsquo;s Obligations is subject to United States federal, state or local income tax or any equivalent
taxes in territories outside the United States prior to payment or to any interest or penalty tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 5. Interests of Named Experts and Counsel.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 6. Indemnification of Directors and Officers. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 145 of the General Corporation Law
of the State of Delaware, as amended, provides that under certain circumstances a corporation may indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person
is or was a director, officer, employee or agent of the corporation or is or was serving at its request in such capacity of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding if such person acted
in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation and, with
respect to any criminal action or proceeding, had no reasonable cause to believe such person&rsquo;s conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Article VIII of the Amended and Restated Certificate
of Incorporation of the Registrant (&ldquo;Certificate of Incorporation&rdquo;) and Section 6.07 of the Amended and Restated Bylaws of
the Registrant (&ldquo;Bylaws&rdquo;), each as amended to date, provide for the indemnification of the Registrant&rsquo;s directors and
officers. The Certificate of Incorporation provides that each person who is or was a director or officer of the Registrant shall be indemnified
by the Registrant to the fullest extent permitted from time to time by applicable law. In addition, the Bylaws provide that each person
who was or is made a party or is threatened to be made a party to or is involved in any manner in any threatened, pending or completed
claim, action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she or a
person of whom he or she is the legal representative is or was a director or officer of the Registrant or a director or elected officer
of a corporation, trust, limited liability company or other non-corporate business enterprise in which the Registrant directly or indirectly
holds ownership interests representing (A) more than 50% of the voting power of all outstanding ownership interests of such entity (other
than directors&rsquo; qualifying shares, in the case of a corporation) or (B) the right to receive more than 50% of the net assets of
such entity available for distribution to the holders of outstanding ownership interests upon a liquidation or dissolution of such entity
(a &ldquo;Subsidiary&rdquo;), shall be indemnified and held harmless by the Registrant to the fullest extent permitted by applicable law.
The right to indemnification under the Bylaws includes the right to be paid the expenses incurred by such person in defending any such
proceeding in advance of its final disposition upon receipt (unless the Registrant upon authorization of the Board of Directors waives
such requirement to the extent permitted by applicable law) of an undertaking by or on behalf of such person to repay such amount if it
shall ultimately be determined that such person is not entitled to be indemnified by the Registrant.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Registrant&rsquo;s Bylaws also provide
that the Registrant may, to the extent authorized from time to time by the Board of Directors, grant rights to indemnification, and rights
to be paid by the Registrant for the expenses incurred in defending any proceeding in advance of its final disposition, to any person
who is or was an employee or agent (other than a director or officer) of the Registrant or a Subsidiary and to any person who is or was
serving at the request of the Registrant or a Subsidiary as a director, officer, partner, member, employee or agent of another corporation,
partnership, limited liability company, joint venture, trust or other enterprise, including service with respect to employee benefit plans
maintained or sponsored by the Registrant or a Subsidiary, to the fullest extent as the Bylaws provide with respect to the indemnification
and advancement of expenses of directors and officers of the Registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">However, the Registrant&rsquo;s obligation,
if any, to indemnify or to advance expenses to any person who was or is serving at its request as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise will be reduced by any amount such person collects as indemnification
or advancement of expenses from such other corporation, partnership, joint venture, trust or other enterprise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under the Bylaws, the Registrant has the power
to maintain insurance, at the Registrant&rsquo;s expense, to protect itself and any person who is or was a director, officer, partner,
member, employee or agent of the Registrant or a Subsidiary, or of another corporation, partnership, limited liability company, joint
venture, trust or other enterprise, against any expense, liability or loss whether or not the Registrant would have the power to indemnify
such person against such expense, liability or loss under the of the General Corporation Law of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 7. Exemption from Registration Claimed.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 8. Exhibits.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; padding: 1.75pt 1.25pt 12.25pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Number</U></FONT></TD>
    <TD STYLE="width: 74%; padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><U>Title of Exhibit</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">Amended and Restated Certificate of Incorporation of Morgan Stanley, as amended to date (Exhibit 3.1 to Morgan Stanley&rsquo;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Amended and Restated Bylaws of Morgan Stanley (Exhibit 3.1 to Morgan Stanley&rsquo;s Current Report on Form 8-K filed on October 29, 2015). </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">5</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Opinion of Shearman &amp; Sterling LLP regarding the validity of the securities being registered.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">15*</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Letter of Awareness from Deloitte &amp; Touche LLP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">23.1</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Consent of Shearman &amp; Sterling LLP (included in Exhibit 5).</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt; width: 26%"><FONT STYLE="font-size: 10pt">23.2</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt; width: 74%"><FONT STYLE="font-size: 10pt">Consent of Deloitte &amp; Touche LLP.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">23.3*</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Consent of Shearman &amp; Sterling LLP, as Special Tax Counsel for Certain Structured Product Issuances.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">24</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Powers of Attorney (included on signature page).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Morgan Stanley Compensation Incentive Plan, as amended and restated as of December 14, 2020 (Exhibit 10.24 to Morgan Stanley&rsquo;s annual report on Form 10-K for the year ended December 31, 2020).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">107*</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">Filing Fee Table.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"><B>*</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0"><B>Item 9. Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
include any prospectus required by Section 10(a)(3) of the </FONT><FONT STYLE="font-size: 9pt">Securities Act</FONT><FONT STYLE="font-size: 10pt">;</FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.25in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration
Statement; and</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.25in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement; <I>provided</I>, <I>however</I>, that the undertakings set forth in
paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That,
for the purpose of determining any liabilities under the Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
Registrant&rsquo;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and where applicable, each filing of
an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Pursuant to the requirements
of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in The City of New York, State of New York, on this 5th day of August, 2022.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase">MORGAN STANLEY</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase">(R</FONT><FONT STYLE="font-size: 10pt">egistrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt"><FONT STYLE="font-size: 10pt">/s/ James P. Gorman</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 30%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">James P. Gorman</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Chairman and Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 207.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="a_001"></A>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">KNOW ALL PERSONS BY THESE PRESENTS that each
person whose signature appears below hereby constitutes and appoints Martin M. Cohen, Jeanne Greeley O&rsquo;Regan, Tara Giannone and
Jill Chesler Schwartz and each of them singly, his or her true and lawful attorney-in-fact and agent with full power of substitution and
resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including
post-effective amendments, to this Registration Statement (any of which amendments may make such changes and additions to this Registration
Statement as such attorneys-in-fact may deem necessary or appropriate) and to file the same, with all exhibits thereto, and any other
documents that may be required in connection therewith, granting unto said attorneys-in-fact and agents full power and authority to be
done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming
all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to the requirement of the Securities
Act of 1933, as amended, this Registration Statement has been signed below by the following persons on behalf of Registrant and in the
capacities indicated as of this 5th day of August, 2022.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt"><FONT STYLE="font-size: 10pt">&#9;<U>Signature</U></FONT></TD>
    <TD STYLE="width: 62%; padding-top: 6pt; padding-bottom: 6pt; line-height: 12pt"><FONT STYLE="font-size: 10pt">&#9;<U>Title</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 12pt">&nbsp;</TD>
    <TD STYLE="line-height: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ James P. Gorman &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">James P. Gorman</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Chairman and Chief Executive Officer (Principal Executive Officer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Sharon Yeshaya &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Sharon
    Yeshaya</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer (Principal Financial Officer)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Raja Akram &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Raja Akram</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Deputy Chief Financial Officer (Chief Accounting Officer and Controller)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Alistair Darling &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Alistair Darling</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Thomas H. Glocer &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Thomas
    H. Glocer</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Robert H. Herz
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Robert
    H. Herz</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Erika H. James &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Erika H. James</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Hironori Kamezawa &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Hironori Kamezawa</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 38%">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Shelley B. Leibowitz &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Shelley B. Leibowitz</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt; width: 62%"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Stephen J. Luczo &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Stephen J. Luczo</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Jami Miscik &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Jami Miscik</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Masato Miyachi &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Masato Miyachi</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Dennis M. Nally &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Dennis
    M. Nally</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Mary L. Schapiro &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Mary
    L. Schapiro</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Perry M. Traquina &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Perry M. Traquina</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><U>/s/ Rayford Wilkins, Jr. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Rayford Wilkins, Jr.</P></TD>
    <TD STYLE="padding-top: 12pt; padding-bottom: 6pt; text-align: justify; line-height: 12pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD></TR>
  </TABLE>
  <BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Certain of the following
exhibits, as indicated parenthetically, were previously filed as exhibits to reports filed by Morgan Stanley under the Exchange Act and
are hereby incorporated by reference to such reports. Morgan Stanley&rsquo;s Exchange Act file number is 1-11758.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; padding: 1.75pt 1.25pt 12.25pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Number</U></FONT></TD>
    <TD STYLE="width: 74%; padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><U>Title of Exhibit</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt; text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000089542122000515/exhibit31q22022_10-q.htm">Amended and Restated Certificate of Incorporation of Morgan Stanley, as amended to date (Exhibit 3.1 to Morgan Stanley&rsquo;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000095010315008454/dp60784_ex0301.htm">Amended and Restated Bylaws of Morgan Stanley (Exhibit 3.1 to Morgan Stanley&rsquo;s Current Report on Form 8-K filed on October 29, 2015).</A> </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">5</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="ss1210852_ex05.htm">Opinion of Shearman &amp; Sterling LLP regarding the validity of the securities being registered.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">15*</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="ss1210852_ex15.htm">Letter of Awareness from Deloitte &amp; Touche LLP.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">23.1</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="ss1210852_ex05.htm">Consent of Shearman &amp; Sterling LLP (included in Exhibit 5).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">23.2</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="ss1210852_ex2302.htm">Consent of Deloitte &amp; Touche LLP.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">23.3*</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="ss1210852_ex2303.htm">Consent of Shearman &amp; Sterling LLP, as Special Tax Counsel for Certain Structured Product Issuances.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">24</FONT><FONT STYLE="font-size: 12.5pt"><SUP>*</SUP></FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="#a_001">Powers of Attorney (included on signature page).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000089542121000286/exhibit1024q42020_10-k.htm">Morgan Stanley Compensation Incentive Plan, as amended and restated as of December 14, 2020 (Exhibit 10.24 to Morgan Stanley&rsquo;s annual report on Form 10-K for the year ended December 31, 2020).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt">107*</FONT></TD>
    <TD STYLE="padding: 1.75pt 1.25pt 12.25pt"><FONT STYLE="font-size: 10pt"><A HREF="ss1210852_ex107.htm">Filing Fee Table.</A></FONT></TD></TR>
  </TABLE>
<BR>
<BR>
<BR>
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</HTML>
[{"type": "S-8", "sequence": "1", "filename": "ss1210852_s8.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 58429}]
{"company-data": {"conformed-name": "MORGAN STANLEY", "cik": "0000895421", "assigned-sic": "6211", "irs-number": "363145972", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-266612", "film-number": "221141793"}, "business-address": {"street1": "1585 BROADWAY", "city": "NEW YORK", "state": "NY", "zip": "10036", "phone": "212-761-4000"}, "mail-address": {"street1": "1585 BROADWAY", "city": "NEW YORK", "state": "NY", "zip": "10036"}, "former-company": [{"former-conformed-name": "MORGAN STANLEY DEAN WITTER & CO", "date-changed": "19980326"}, {"former-conformed-name": "DEAN WITTER DISCOVER & CO", "date-changed": "19960315"}]}
As filed with the Securities and Exchange Commission on August 5, 2022.
Registration No. ____
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
_____________________
MORGAN STANLEY
(Exact name of registrant as specified in its
charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
36-3145972
(I.R.S. Employer
Identification No.)
1585 Broadway
New York, NY 10036
(Address of principal executive offices, including
zip code)
Morgan Stanley Compensation Incentive Plan
(Full title of the plan)
Martin M. Cohen, Esq.
Counsel and Corporate Secretary
Morgan Stanley
1585 Broadway
New York, New York 10036
(212) 761-4000
(Name, address and telephone number of agent
for service)
With a copy to:
Gillian Emmett Moldowan, Esq.
Shearman & Sterling LLP
599 Lexington Avenue New York, NY 10022
(212) 848-4000
Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large
accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company"
in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
(Do not check if a smaller reporting company)
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 7(a)(2)(B) of the Securities Act.
☐
PART I
INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS
Item 1. Plan Information.
*
Item 2. Registrant Information and Employee
Plan Annual Information.
*
* Information required by Part I to be contained in the Section 10(a) prospectus
is omitted from this registration statement on Form S-8 (this "Registration Statement") in accordance with Rule 428 under
the Securities Act of 1933, as amended (the "Securities Act"), and the "Note" to Part I of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed with the Securities
and Exchange Commission (the "Commission") are incorporated as of their respective dates in this Registration Statement by
reference:
(a)  the Registrant's
Annual Report on Form 10-K for the year ended December 31, 2021 (the "Form 10-K") that contains audited financial statements
for the registrant's latest fiscal year for which such statements have been filed;
(b)  the Registrant's
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022; and
(c)  the Registrant's
Current Reports on Form 8-K dated January 18, 2022, January 19, 2022 (to the extent deemed filed), January 21, 2022, April 14, 2022, May
27, 2022, June 27, 2022,  July 14, 2022 and August 2, 2022.
In addition, all documents that the Registrant
files pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date of this Registration Statement and prior to the
filing of a post-effective amendment that indicates that all of the securities offered hereby have been sold, or which deregisters all
securities then remaining unsold shall be deemed to be incorporated herein by reference and to be a part hereof from the date of filing
of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the extent that a statement incorporated by reference herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Under the Morgan Stanley Compensation Incentive
Plan, as amended and restated (the "Plan"), the Registrant may provide eligible employees with awards of deferred cash compensation.
The obligations of the Registrant under the Plan (the "Obligations") to a participating employee (a "Participant")
represent at all times an unfunded, contingent and unsecured contractual obligation of the Registrant to pay the Obligations in the future
in accordance with the terms of the Plan. Each Participant is an unsecured general creditor of the Registrant with respect to all Obligations
and will rank pari passu with other unsecured and unsubordinated indebtedness of the Registrant from time to time outstanding. In addition,
the rights of Participants in the Plan are subject to the prior claims of creditors of the Registrant's subsidiaries. Obligations
shall be satisfied solely out of the general assets of the Registrant, subject to the claims of its creditors. A Participant will not
have any interest in any fund or in any specific asset of the Registrant of any kind by reason of any amount credited to the Participant
under the Plan, nor will a Participant have any right to receive any distribution under the Plan except as, and to the extent, expressly
provided in the Plan document or the award certificate evidencing the Obligation. The Registrant will not segregate any funds or assets
to provide for the Obligations or issue any notes or securities for the payment thereof.
The amount of compensation to be awarded to
or deferred by each Participant will be determined in accordance with the terms of the Plan. Each Obligation will be payable on a date
in the future in accordance with the terms of the Plan. The Obligations will be indexed to one or more notional investment options available
under the Plan. Each Participant's Obligation will be adjusted to reflect the investment experience, whether positive or negative,
and the fees and costs of the selected notional investment options, including any appreciation or depreciation and any Plan administration
fees. The value of Obligations held by a Participant is subject to risk at all times based upon the performance of the notional investment
options and based upon currency fluctuation.
The administrator of the Plan will determine
the vesting schedule, as well as any other restrictions, applicable to the Obligations held by a Participant (which may include, without
limitation, the effects of termination of employment and cancellation of the Obligations under specified circumstances). The administrator
may also establish other terms and conditions applicable to the Obligations, including, without limitation, the consequences of a Participant's
death.
A Participant may not assign, sell, garnish,
transfer, pledge or encumber the Participant's interests in the Plan, except by a written designation of a beneficiary under the
Plan, by written will or by the laws of descent and distribution. The Obligations are not convertible into another security of the Registrant.
The Registrant reserves the right to alter,
amend or modify the Plan, any program under the Plan or any of the award documents under the Plan at any time in its sole discretion.
The Registrant may not amend or modify the Plan in a manner that would materially impair a Participant's rights, if any, in the
Participant's Obligations without the Participant's consent; provided, however, that the Registrant may, without a Participant's
consent, amend or modify the Plan in any manner that the Registrant considers necessary or advisable to comply with any applicable law,
regulation, ruling, judicial decision, accounting standards, regulatory guidance or other legal requirement or to ensure that neither
the entirety nor any part of a Participant's Obligations is subject to United States federal, state or local income tax or any equivalent
taxes in territories outside the United States prior to payment or to any interest or penalty tax.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Section 145 of the General Corporation Law
of the State of Delaware, as amended, provides that under certain circumstances a corporation may indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person
is or was a director, officer, employee or agent of the corporation or is or was serving at its request in such capacity of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding if such person acted
in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation and, with
respect to any criminal action or proceeding, had no reasonable cause to believe such person's conduct was unlawful.
Article VIII of the Amended and Restated Certificate
of Incorporation of the Registrant ("Certificate of Incorporation") and Section 6.07 of the Amended and Restated Bylaws of
the Registrant ("Bylaws"), each as amended to date, provide for the indemnification of the Registrant's directors and
officers. The Certificate of Incorporation provides that each person who is or was a director or officer of the Registrant shall be indemnified
by the Registrant to the fullest extent permitted from time to time by applicable law. In addition, the Bylaws provide that each person
who was or is made a party or is threatened to be made a party to or is involved in any manner in any threatened, pending or completed
claim, action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she or a
person of whom he or she is the legal representative is or was a director or officer of the Registrant or a director or elected officer
of a corporation, trust, limited liability company or other non-corporate business enterprise in which the Registrant directly or indirectly
holds ownership interests representing (A) more than 50% of the voting power of all outstanding ownership interests of such entity (other
than directors' qualifying shares, in the case of a corporation) or (B) the right to receive more than 50% of the net assets of
such entity available for distribution to the holders of outstanding ownership interests upon a liquidation or dissolution of such entity
(a "Subsidiary"), shall be indemnified and held harmless by the Registrant to the fullest extent permitted by applicable law.
The right to indemnification under the Bylaws includes the right to be paid the expenses incurred by such person in defending any such
proceeding in advance of its final disposition upon receipt (unless the Registrant upon authorization of the Board of Directors waives
such requirement to the extent permitted by applicable law) of an undertaking by or on behalf of such person to repay such amount if it
shall ultimately be determined that such person is not entitled to be indemnified by the Registrant.
The Registrant's Bylaws also provide
that the Registrant may, to the extent authorized from time to time by the Board of Directors, grant rights to indemnification, and rights
to be paid by the Registrant for the expenses incurred in defending any proceeding in advance of its final disposition, to any person
who is or was an employee or agent (other than a director or officer) of the Registrant or a Subsidiary and to any person who is or was
serving at the request of the Registrant or a Subsidiary as a director, officer, partner, member, employee or agent of another corporation,
partnership, limited liability company, joint venture, trust or other enterprise, including service with respect to employee benefit plans
maintained or sponsored by the Registrant or a Subsidiary, to the fullest extent as the Bylaws provide with respect to the indemnification
and advancement of expenses of directors and officers of the Registrant.
However, the Registrant's obligation,
if any, to indemnify or to advance expenses to any person who was or is serving at its request as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise will be reduced by any amount such person collects as indemnification
or advancement of expenses from such other corporation, partnership, joint venture, trust or other enterprise.
Under the Bylaws, the Registrant has the power
to maintain insurance, at the Registrant's expense, to protect itself and any person who is or was a director, officer, partner,
member, employee or agent of the Registrant or a Subsidiary, or of another corporation, partnership, limited liability company, joint
venture, trust or other enterprise, against any expense, liability or loss whether or not the Registrant would have the power to indemnify
such person against such expense, liability or loss under the of the General Corporation Law of the State of Delaware.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Number
Title of Exhibit
3.1
Amended and Restated Certificate of Incorporation of Morgan Stanley, as amended to date (Exhibit 3.1 to Morgan Stanley's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022).
3.2
Amended and Restated Bylaws of Morgan Stanley (Exhibit 3.1 to Morgan Stanley's Current Report on Form 8-K filed on October 29, 2015).
5
*
Opinion of Shearman & Sterling LLP regarding the validity of the securities being registered.
15*
Letter of Awareness from Deloitte & Touche LLP.
23.1
*
Consent of Shearman & Sterling LLP (included in Exhibit 5).
23.2
*
Consent of Deloitte & Touche LLP.
23.3*
Consent of Shearman & Sterling LLP, as Special Tax Counsel for Certain Structured Product Issuances.
24
*
Powers of Attorney (included on signature page).
99.1
Morgan Stanley Compensation Incentive Plan, as amended and restated as of December 14, 2020 (Exhibit 10.24 to Morgan Stanley's annual report on Form 10-K for the year ended December 31, 2020).
107*
Filing Fee Table.
*
Filed herewith.
Item 9. Undertakings.
(a)       The
undersigned Registrant hereby undertakes:
(1)       To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)        to
include any prospectus required by Section 10(a)(3) of the
Securities Act
;
(ii)       to
reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration
Statement; and
(iii)      to
include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided
,
however
, that the undertakings set forth in
paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are
incorporated by reference in this Registration Statement.
(2)       That,
for the purpose of determining any liabilities under the Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.
(3)       To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.
(b)       The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and where applicable, each filing of
an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering
of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)       Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements
of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in The City of New York, State of New York, on this 5th day of August, 2022.
MORGAN STANLEY
(R
egistrant)
By:
/s/ James P. Gorman
Name:
James P. Gorman
Title:
Chairman and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS that each
person whose signature appears below hereby constitutes and appoints Martin M. Cohen, Jeanne Greeley O'Regan, Tara Giannone and
Jill Chesler Schwartz and each of them singly, his or her true and lawful attorney-in-fact and agent with full power of substitution and
resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including
post-effective amendments, to this Registration Statement (any of which amendments may make such changes and additions to this Registration
Statement as such attorneys-in-fact may deem necessary or appropriate) and to file the same, with all exhibits thereto, and any other
documents that may be required in connection therewith, granting unto said attorneys-in-fact and agents full power and authority to be
done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming
all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirement of the Securities
Act of 1933, as amended, this Registration Statement has been signed below by the following persons on behalf of Registrant and in the
capacities indicated as of this 5th day of August, 2022.
Signature
Title
/s/ James P. Gorman
James P. Gorman
Chairman and Chief Executive Officer (Principal Executive Officer)
/s/ Sharon Yeshaya
Sharon
    Yeshaya
Chief Financial Officer (Principal Financial Officer)
/s/ Raja Akram
Raja Akram
Deputy Chief Financial Officer (Chief Accounting Officer and Controller)
/s/ Alistair Darling
Alistair Darling
Director
/s/ Thomas H. Glocer
Thomas
    H. Glocer
Director
/s/ Robert H. Herz
Robert
    H. Herz
Director
/s/ Erika H. James
Erika H. James
Director
/s/ Hironori Kamezawa
Hironori Kamezawa
Director
/s/ Shelley B. Leibowitz
Shelley B. Leibowitz
Director
/s/ Stephen J. Luczo
Stephen J. Luczo
Director
/s/ Jami Miscik
Jami Miscik
Director
/s/ Masato Miyachi
Masato Miyachi
Director
/s/ Dennis M. Nally
Dennis
    M. Nally
Director
/s/ Mary L. Schapiro
Mary
    L. Schapiro
Director
/s/ Perry M. Traquina
Perry M. Traquina
Director
/s/ Rayford Wilkins, Jr.
Rayford Wilkins, Jr.
Director
EXHIBIT INDEX
Certain of the following
exhibits, as indicated parenthetically, were previously filed as exhibits to reports filed by Morgan Stanley under the Exchange Act and
are hereby incorporated by reference to such reports. Morgan Stanley's Exchange Act file number is 1-11758.
Number
Title of Exhibit
3.1
Amended and Restated Certificate of Incorporation of Morgan Stanley, as amended to date (Exhibit 3.1 to Morgan Stanley's Quarterly Report on Form 10-Q for the quarter ended June 30, 2022).
3.2
Amended and Restated Bylaws of Morgan Stanley (Exhibit 3.1 to Morgan Stanley's Current Report on Form 8-K filed on October 29, 2015).
5
*
Opinion of Shearman & Sterling LLP regarding the validity of the securities being registered.
15*
Letter of Awareness from Deloitte & Touche LLP.
23.1
*
Consent of Shearman & Sterling LLP (included in Exhibit 5).
23.2
*
Consent of Deloitte & Touche LLP.
23.3*
Consent of Shearman & Sterling LLP, as Special Tax Counsel for Certain Structured Product Issuances.
24
*
Powers of Attorney (included on signature page).
99.1
Morgan Stanley Compensation Incentive Plan, as amended and restated as of December 14, 2020 (Exhibit 10.24 to Morgan Stanley's annual report on Form 10-K for the year ended December 31, 2020).
107*
Filing Fee Table.