Exclusive: U.S. expands China hiring probe to Morgan Stanley

The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China as part of an industry-extensive investigation by the government into whether banks' employment of politically connected Chinese breached U.S. bribery regulations, in keeping with folks acquainted with the subject. As a part of the trade sweep, the U.S. Securities and Alternate Commission despatched letters to Morgan Stanley and different banks, together with Goldman Sachs and Citigroup, in the hunt for details about their hiring practices, in step with a few folks conversant in the matter. The SEC has requested the monetary services and products firms to offer details about their hiring of the loved ones of government officials in China, mentioned two people, who were not authorized to talk publicly.