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Switzerland's Office of the Attorney General, or OAG, fined Morgan Stanley's local branch $1.1 million Thursday, ending a five-year investigation into the company's failure to detect and prevent an employee from helping a former senior official in Greece launder bribes. Morgan Stanley's affiliate in Zurich had an adequate anti-money laundering program over the 13 years in which the breaches occurred, but still failed to identify and mitigate risk, and especially failed to challenge what OAG described as the "misleading and deceptive" information that the now-convicted employee submitted on behalf of the client. The troubles began with a run-of-the-mill, albeit highly...