Foreign Corrupt Practices Act: Investigations Dataset

Investigation Name: Investigation into 3M's Activities in China

Trend: None

Type of investigation: Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation: Unknown

Whistleblower: Unknown

Summary

3M Company, a Delaware corporation with principal offices in Minnesota, is a multinational corporation operating in the fields of industry, worker safety, US health care, and consumer goods. Its common stock with the MMM ticker is traded on the New York Stock Exchange and the Chicago Stock Exchange.

In its 10-Q filed on July 26, 2019, 3M disclosed that it had discovered through internal processes that certain travel activities and related funding and record keeping issues arising from marketing efforts by certain business groups based in China raised concerns about the company's compliance with the FCPA. According to the filing, the company initiated an internal investigation into the issues with the assistance of an outside law firm and forensic accounting firm.

On July 23, 2019, the company self-reported the investigation to the DOJ and SEC, and 3M said it was cooperating with both agencies.

In its 10-K filed on February 8, 2023, the company stated that it was in negotiations with both agencies to resolve their investigations.

On August 25, 2023, the SEC announced that it had initiated a settled administrative proceeding against 3M.

In its 10-Q filed on October 24, 2023, 3M announced that in August 2023, the DOJ had closed its investigation with no further action.

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| Investigations Dataset

Investigations Dataset

Information & Summary

Investigation into 3M's Activities in China

Information & Summary

Protected Content