NEW YORK, Feb 11 (Reuters) - Morgan Stanley said on Wednesday it fired a China-based employee who initiated actions that 'appear to have violated the Foreign Corrupt Practices Act.'
The investment bank said in a filing to the U.S. Securities and Exchange Commission that it reported the employee, based at 'an overseas real estate subsidiary,' to authorities, and is continuing an investigation.
A Morgan Stanley spokeswoman was not immediately available to comment.
On Dec. 31, sources with direct knowledge of the situation told Reuters Garth Peterson, its top property dealmaker in China, had resigned. Peterson was the Shanghai-based managing director of Morgan Stanley Real Estate.
It was not immediately clear whether the Wednesday filing referred to Paterson.
Separately, the U.S.-based firm said in the filing shareholders approved conversion terms of convertible stock.
(Reporting by Jonathan Spicer; Editing by Bernard Orr) Keywords: MORGANSTANLEY/EMPLOYEE (jonathan.spicer@thomsonreuters.com; +1-646-223-6253; Reuters Messaging: jonathan.spicer.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The investment bank said in a filing to the U.S. Securities and Exchange Commission that it reported the employee, based at 'an overseas real estate subsidiary,' to authorities, and is continuing an investigation.
A Morgan Stanley spokeswoman was not immediately available to comment.
On Dec. 31, sources with direct knowledge of the situation told Reuters Garth Peterson, its top property dealmaker in China, had resigned. Peterson was the Shanghai-based managing director of Morgan Stanley Real Estate.
It was not immediately clear whether the Wednesday filing referred to Paterson.
Separately, the U.S.-based firm said in the filing shareholders approved conversion terms of convertible stock.
(Reporting by Jonathan Spicer; Editing by Bernard Orr) Keywords: MORGANSTANLEY/EMPLOYEE (jonathan.spicer@thomsonreuters.com; +1-646-223-6253; Reuters Messaging: jonathan.spicer.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.