Morgan Stanley fires worker in China over bribery

NEW YORK - Morgan Stanley said Wednesday it has fired an employee based in China for an apparent violation of the Foreign Corrupt Practices Act, under which it is a crime to bribe foreign government officials.

In a two-sentence statement in a document filed with the Securities and Exchange Commission, the New York-based bank said it has recently uncovered actions initiated by an employee in China "in an overseas real estate subsidiary."

"Morgan Stanley terminated the employee, reported the activity to appropriate authorities and is continuing to investigate the matter," the company said in the filing.

A company spokeswoman did not immediately return a call seeking comment.

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