Reuters day ahead with news of Morgan Stanley China corruption probe

Reuters was one day ahead of the Wall Street Journal and the Financial Times with the news that Morgan Stanley`s former China property head Garth Peterson was under investigation in connection with possible violations of the U.S. Foreign Corrupt Practices Act. When the Wall Street bank announced in a filing late on Feb. 11 that it had fired a China-based employee over a possible FCPA violation, Reuters managed to identify the suspect and glean details and quotes about the investigation, based on confidential sources. The story won media play worldwide including on CNBC, the DealBook column of the New York Times, the International Herald Tribune and the South China Morning Post. Neither Bloomberg nor Dow Jones Newswires could identify the China-based employee fired by the bank in relation to the FCPA issues.