Morgan Stanley Wealth Management Australia Pty Ltd

This licence authorises the licensee to carry on a financial services business to:

provide financial product advice to wholesale clients only for the following classes of financial products:

non standard margin lending facility; and

deal in a financial product to wholesale clients only by:

issuing, apply for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

non standard margin lending facility; and

applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of financial products:

non standard margin lending facility; and

provide financial product advice to retail and wholesale clients for the following classes of financial products:

deposit and payment products limited to:

basic deposit products;

deposit products other than basic deposit products;

derivatives;

foreign exchange contracts;

general insurance products limited to:

consumer credit insurance products;

debentures, stocks or bonds issued or proposed to be issued by a government;

life products including:

investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds; and

life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;

interests in managed investment schemes including:

investor directed portfolio services;

interests in managed investment schemes limited to:

MDA services;

retirement savings accounts ("RSA") products (within the meaning of the Retirement Savings Account Act 1997);

securities;

standard margin lending facility;

superannuation; and

financial products limited to:

miscellaneous financial investment products;

miscellaneous financial investment products limited to MDA services;

deal in a financial product to retail and wholesale clients by:

issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

derivatives;

foreign exchange contracts;

interests in managed investment schemes limited to:

MDA services;

securities;

standard margin lending facility; and

financial products limited to:

miscellaneous financial investment products limited to MDA services;

applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

deposit and payment products including:

basic deposit products;

deposit products other than basic deposit products; and

non-cash payment products;

derivatives;

foreign exchange contracts;

general insurance products limited to:

consumer credit insurance products;

debentures, stocks or bonds issued or proposed to be issued by a government;

life products including:

investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds; and

life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;

interests in managed investment schemes including:

investor directed portfolio services;

interests in managed investment schemes limited to:

MDA services;

retirement savings accounts ("RSA") products (within the meaning of the Retirement Savings Account Act 1997);

securities;

standard margin lending facility;

superannuation; and

financial products limited to:

miscellaneous financial investment products;

miscellaneous financial investment products limited to MDA services; and

underwriting to retail and wholesale clients in respect of the following classes of financial products:

interests in managed investment schemes; and

an issue of securities;

make a market for the following financial products in respect of retail and wholesale clients:

foreign exchange contracts;

derivatives;

debentures, stocks or bonds issued or proposed to be issued by a government and/or debentures issued by any other body; and

limited to financial products other than:

derivatives;

foreign exchange contracts; and

debentures, stocks or bonds issued or proposed to be issued by a government and/or debentures issued by any other body; and

provide the following custodial or depository services to retail and wholesale clients:

operate custodial or depository services other than investor directed portfolio services.