Morgan Stanley has suspended its global head of real estate investing after an investigation revealed that actions by an employee believed to be the former China property head 'appear to have violated' the foreign corrupt practices act, a US law that prohibits corporate bribery, the Financial Times reported.
Morgan Stanley has suspended its global head of real estate investing after an investigation revealed that actions by an employee believed to be the former China property head 'appear to have violated' the foreign corrupt practices act, a US law that prohibits corporate bribery, the Financial Times reported.
The paper reported that the investment bank has put Sonny Kalsi on administrative leave, effective immediately. The decision is connected to an investigation of alleged misconduct by an unnamed China-based employee. The employee is believed to be Garth Peterson, Morgan Stanley's head of China business who was fired around Christmas.
