Defendant Name: 3M Company

Defendant Type: Public Company

Document Reference: 2023-160

Document Details

Legal Case Name In the Matter of 3M Company
Document Name SEC Charges 3M with Foreign Corrupt Practices Act Violations Relating to China Subsidiary
Document Date 25-Aug-2023
Document Format Administrative Proceeding
File Number 3-21581
Allegation Type Foreign Corrupt Practices Act
Document Summary On August 25, 2023, the SEC "announced that 3M Company agreed to pay more than $6.5 million to resolve charges that it violated the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA)."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Disgorgement

Individual:     $4,581,618.00 Shared:    

Civil Penalty

Individual:     $2,000,000.00 Shared:    

Pre-Judgment Interest

(Penalty was noted in document, but no amount was listed)

Related Documents:

34-98222 25-Aug-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On August 25, 2023, the SEC instituted settled cease-and-desist proceedings against 3M Company, stating: "This matter concerns violations of the books and records and internal accounting control provisions of the Foreign Corrupt Practices Act ("FCPA") by 3M resulting from conduct by one of its China-based subsidiaries, 3M-China Ltd. ("3M-China") from at least 2014 to 2018."