<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>As filed with the Securities and Exchange Commission on May 26,
2021. </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; text-align: right"><B>Registration No. ____&nbsp;</B></P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 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)&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 48pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%"><P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>Delaware</B></P>
                           <P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">(State or other jurisdiction
of</P>
                           <P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">incorporation or organization)&#9;</P></TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%"><P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>36-3145972</B></P>
                           <P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">(I.R.S. Employer</P>
                           <P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Identification No.)</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-indent: 48pt"><B>&#9;</B></P>

<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"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 70%">Large accelerated filer &#9746;</TD>
    <TD STYLE="width: 28%">Accelerated filer &#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Non-accelerated filer &#9744; (Do not check if a smaller reporting company) </TD>
    <TD>Smaller
reporting company &#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Emerging growth company &#9744;</TD></TR>
</TABLE>

<P STYLE="font: 10pt/12.3pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"></P>

<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. &#9744;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%; border: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Title of Securities</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">to be Registered</P></TD>
    <TD STYLE="width: 18%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Amount to be</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registered (1)</P></TD>
    <TD STYLE="width: 17%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Proposed Maximum</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Offering Price</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Per Share (2)</P></TD>
    <TD STYLE="width: 20%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Proposed Maximum</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Aggregate</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Offering Price</P></TD>
    <TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt/12pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center">Amount of Registration Fee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt/12pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt">Common Stock, par value $0.01 per share, under the Morgan Stanley Equity Incentive Compensation Plan</TD>
    <TD STYLE="padding-top: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">60,000,000</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-top: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">$85.21</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-top: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">$5,112,600,000</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="padding-top: 3pt; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5pt; padding-left: 5pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">$557,785</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 5%">(1)</TD><TD STYLE="text-align: justify; width: 95%"><FONT STYLE="font-size: 9pt">Pursuant to Rule 416(a) under the Securities Act of 1933, as amended
(the &ldquo;<I>Securities Act</I>&rdquo;), this registration statement on Form S-8 (this &ldquo;<I>Registration Statement</I>&rdquo;)
also covers an indeterminate amount of additional shares of Common Stock, par value $0.01 per share (the &ldquo;<I>Common Stock</I>&rdquo;)
of Morgan Stanley (the &ldquo;<I>Registrant</I>&rdquo;) that may be offered or delivered under the Morgan Stanley Equity Incentive
Compensation Plan to prevent dilution resulting from any stock dividend, stock split, recapitalization or other similar transaction.
No additional registration fee is included for these shares.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 5%">(2)</TD><TD STYLE="text-align: justify; width: 95%"><FONT STYLE="font-size: 9pt">Estimated pursuant to Rule 457(h) under the Securities Act solely
for purposes of calculating the amount of the registration fee based upon the average of the high and low prices reported for the
shares of Common Stock on the New York Stock Exchange on May 19, 2021.</FONT></TD></TR></TABLE>

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

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

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

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

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: -0.5in"></P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 1.&#9;Plan Information.<SUP>*</SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 2.&#9;Registrant Information and Employee Plan Annual Information.<SUP>*</SUP></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>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: -0.5in"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top"><TD STYLE="width: 0%"></TD><TD STYLE="width: 5%"><SUP>*</SUP></TD><TD STYLE="text-align: justify; width: 95%"><FONT STYLE="font-size: 9pt">Information required by Part&nbsp;I to be contained in the Section
10(a) prospectus is omitted from this Registration Statement in accordance with Rule&nbsp;428 under the Securities Act and the
&ldquo;Note&rdquo; to Part I of Form S-8.</FONT></TD></TR>
</TABLE></P>

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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.&#9;Incorporation of Documents by Reference.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">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; text-align: justify; text-indent: 0.5in">(a) the Registrant&rsquo;s
Annual Report on Form 10-K for the year ended December 31, 2020 (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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b) the Registrant&rsquo;s
Quarterly Report on Form 10-Q for the quarter ended March 31, 2021;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c) the Registrant&rsquo;s
Current Reports on Form 8-K dated January 20, 2021, January 22, 2021, February 19, 2021, March 1, 2021, April 15, 2021, April 16,
2021 and May 20, 2021; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d) the description of
the Registrant&rsquo;s Common Stock contained in the Registrant&rsquo;s Registration Statement on Form 10 filed with the Commission
pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), on January 15, 1993,
as amended by the description contained in the Registrant&rsquo;s Forms 8 dated February 11, February 21 and February 22, 1993.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&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 Common Stock offered hereby has been sold
or  deregisters all Common Stock 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.&#9;Description of Securities.</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-indent: 0.25in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 5.&#9;Interests of Named Experts and Counsel.</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-indent: 0.25in">&#9;Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 6.&#9;Indemnification of Directors and Officers.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">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.&nbsp;&nbsp;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.&nbsp;&nbsp;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&minus;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) 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.&nbsp;&nbsp;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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">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. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">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; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 7.&#9;Exemption from Registration Claimed.</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-indent: 0.25in">&#9;Not applicable.</P>

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

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Item 8.&#9;Exhibits.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 27%; padding: 1.5pt 1pt 12pt; text-align: justify"><U>Number</U></TD>
    <TD STYLE="width: 73%; padding: 1.5pt 1pt 12pt"><U>Title of Exhibit</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt; text-align: justify">3.1</TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">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 September 30, 2020).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt">3.2</TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">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). </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt">5<SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">Opinion of Shearman &amp; Sterling LLP regarding the validity of the securities being registered.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt">15*</TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">Letter of Awareness from Deloitte &amp; Touche LLP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt">23.1<SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">Consent of Shearman &amp; Sterling LLP (included in Exhibit 5).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt">23.2<SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">Consent of Deloitte &amp; Touche LLP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt">24<SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">Powers of Attorney (included on signature page).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt">99.1</TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt">Morgan Stanley Equity Incentive Compensation Plan (Exhibit 10.1 to Morgan Stanley&rsquo;s current report on Form 8-K filed on May 20, 2021).</TD></TR>
</TABLE>




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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.75in">(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 0.5in; 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: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.25in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
include any prospectus required by Section 10(a)(3) of the <FONT STYLE="font-size: 9pt">Securities Act</FONT>;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; 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 1in; text-align: justify; text-indent: 0.25in">(iii)&nbsp;&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;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><SUP>*</SUP></TD><TD>Filed herewith.</TD></TR></TABLE>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.25in"><I></I></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.25in"><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 0.5in; 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 <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; 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; text-indent: 0.75in">(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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.75in">(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"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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 26th day of May, 2021.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 207.35pt; text-align: justify"><FONT STYLE="text-transform: uppercase"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">MORGAN
STANLEY</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">(R</FONT>egistrant)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ James
P. Gorman</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">Name:</TD>
    <TD STYLE="width: 30%">James
P. Gorman</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chairman and
Chief Executive Officer</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 0 12pt; text-align: center"><B><A NAME="a_001" TITLE="POA"></A>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">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; text-indent: 1in">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 26th day of May, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/12pt Times New Roman, Times, Serif">&#9;<U>Signature</U></TD>
    <TD STYLE="width: 61%; padding-top: 6pt; padding-bottom: 6pt; font: 10pt/12pt Times New Roman, Times, Serif">&#9;<U>Title</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left">_<U>/s/ James P. Gorman</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Chairman and Chief Executive Officer (Principal Executive Officer)</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/ Jonathan Pruzan</U>____________</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Jonathan Pruzan</P></TD>
    <TD STYLE="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Executive Vice President and Chief Financial Officer (Principal Financial Officer)</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Deputy Chief Financial Officer (Chief Accounting Officer and Controller)</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/ Elizabeth Corley</U>____________</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Elizabeth Corley</P></TD>
    <TD STYLE="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"></P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 39%; 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</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="width: 61%; padding-top: 12pt; padding-bottom: 6pt; font: 10pt/12pt Times New Roman, Times, Serif; text-align: justify">Director</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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/ Nobuyuki Hirano</U>___________</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Nobuyuki Hirano</P></TD>
    <TD STYLE="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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/ Shelley B. Leibowitz</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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. Shapiro</U>_____________</P>
        <P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Mary L. Shapiro</P></TD>
    <TD STYLE="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</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.</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="font: 10pt/12pt Times New Roman, Times, Serif; padding-top: 12pt; padding-bottom: 6pt; text-align: justify">Director</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B></B></P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 42pt">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt; width: 27%; text-align: justify"><U>Number</U></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt; width: 73%"><U>Title of Exhibit</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000089542120000527/exhibit31q3202010-q.htm">3.1</A></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000089542120000527/exhibit31q3202010-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 September 30, 2020).</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000095010315008454/dp60784_ex0301.htm">3.2</A></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><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></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex5.htm" STYLE="-sec-extract: exhibit">5</A><SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex5.htm">Opinion of Shearman &amp; Sterling LLP regarding the validity of the securities being registered.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex15.htm" STYLE="-sec-extract: exhibit">15</A>*</TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex15.htm" STYLE="-sec-extract: exhibit">Letter of Awareness from Deloitte &amp; Touche LLP.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex5.htm">23.1</A><SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex5.htm" STYLE="-sec-extract: exhibit">Consent of Shearman &amp; Sterling LLP (included in Exhibit 5).</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex2302.htm" STYLE="-sec-extract: exhibit">23.2</A><SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="ss286742_ex2302.htm" STYLE="-sec-extract: exhibit">Consent of Deloitte &amp; Touche LLP.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="#a_001">24</A><SUP>*</SUP></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="#a_001">Powers of Attorney (included on signature page).</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000095010321007554/dp150990_ex1001.htm">99.1</A></TD>
    <TD STYLE="padding: 1.5pt 1pt 12pt"><A HREF="https://www.sec.gov/Archives/edgar/data/895421/000095010321007554/dp150990_ex1001.htm">Morgan Stanley Equity Incentive Compensation Plan (Exhibit 10.1 to Morgan Stanley&rsquo;s current report on Form 8-K filed on May 20, 2021).</A></TD></TR>
</TABLE>




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

</P>

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

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

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><SUP>*</SUP></TD><TD>Filed herewith.</TD></TR></TABLE>



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

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

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "ss286742_s8.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 61565}]
{"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": "333-256493", "film-number": "21966306"}, "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 May 26,
2021.
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 Equity Incentive Compensation
Plan
(Full title of the plan)
Martin M. Cohen, Esq.
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. ☐
CALCULATION OF REGISTRATION FEE
Title of Securities
to be Registered
Amount to be
Registered (1)
Proposed Maximum
Offering Price
Per Share (2)
Proposed Maximum
Aggregate
Offering Price
Amount of Registration Fee
Common Stock, par value $0.01 per share, under the Morgan Stanley Equity Incentive Compensation Plan
60,000,000
$85.21
$5,112,600,000
$557,785
(1)
Pursuant to Rule 416(a) under the Securities Act of 1933, as amended
(the "
Securities Act
"), this registration statement on Form S-8 (this "
Registration Statement
")
also covers an indeterminate amount of additional shares of Common Stock, par value $0.01 per share (the "
Common Stock
")
of Morgan Stanley (the "
Registrant
") that may be offered or delivered under the Morgan Stanley Equity Incentive
Compensation Plan to prevent dilution resulting from any stock dividend, stock split, recapitalization or other similar transaction.
No additional registration fee is included for these shares.
(2)
Estimated pursuant to Rule 457(h) under the Securities Act solely
for purposes of calculating the amount of the registration fee based upon the average of the high and low prices reported for the
shares of Common Stock on the New York Stock Exchange on May 19, 2021.
2
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 in accordance with Rule 428 under the Securities Act and the
"Note" to Part I of Form S-8.
3
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, 2020 (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 Report on Form 10-Q for the quarter ended March 31, 2021;
(c) the Registrant's
Current Reports on Form 8-K dated January 20, 2021, January 22, 2021, February 19, 2021, March 1, 2021, April 15, 2021, April 16,
2021 and May 20, 2021; and
(d) the description of
the Registrant's Common Stock contained in the Registrant's Registration Statement on Form 10 filed with the Commission
pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on January 15, 1993,
as amended by the description contained in the Registrant's Forms 8 dated February 11, February 21 and February 22, 1993.
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 Common Stock offered hereby has been sold
or  deregisters all Common Stock 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.
Not Applicable.
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.
4
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) 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.
5
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 September 30, 2020).
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.
24
*
Powers of Attorney (included on signature page).
99.1
Morgan Stanley Equity Incentive Compensation Plan (Exhibit 10.1 to Morgan Stanley's current report on Form 8-K filed on May 20, 2021).
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;
*
Filed herewith.
6
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.
7
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 26th day of May, 2021.
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 26th day of May, 2021.
Signature
Title
_
/s/ James P. Gorman
____________
James P. Gorman
Chairman and Chief Executive Officer (Principal Executive Officer)
_
/s/ Jonathan Pruzan
____________
Jonathan Pruzan
Executive Vice President and Chief Financial Officer (Principal Financial Officer)
_
/s/ Raja Akram
________________
Raja Akram
Deputy Chief Financial Officer (Chief Accounting Officer and Controller)
_
/s/ Elizabeth Corley
____________
Elizabeth Corley
Director
8
_
/s/ Alistair Darling
_____________
Alistair Darling
Director
_
/s/ Thomas H. Glocer
___________
Thomas H. Glocer
Director
_
/s/ Robert H. Herz
______________
Robert H. Herz
Director
_
/s/ Nobuyuki Hirano
___________
Nobuyuki Hirano
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/ Dennis M. Nally
_____________
Dennis M. Nally
Director
_
/s/ Mary L. Shapiro
_____________
Mary L. Shapiro
Director
_
/s/ Perry M. Traquina
___________
Perry M. Traquina
Director
_
/s/ Rayford Wilkins, Jr.
__________
Rayford Wilkins, Jr.
Director
9
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 September 30, 2020).
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.
24
*
Powers of Attorney (included on signature page).
99.1
Morgan Stanley Equity Incentive Compensation Plan (Exhibit 10.1 to Morgan Stanley's current report on Form 8-K filed on May 20, 2021).
*
Filed herewith.
10