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3M to pay more than $6 5M for violating certain provisions of the Foreign Corrupt Practices Act

3M has 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, the Securities and Exchange Commission said Friday. The SEC order found that employees of a 3M subsidiary based in China arranged for Chinese government officials employed by state-owned health care facilities to attend overseas conferences, educational events, and health care facility visits, presumably as part of the Chinese subsidiary’s marketing efforts. According to the order, from at least 2014 to 2017 3M’s Chinese subsidiary provided Chinese government officials with overseas travel that included guided tours, shopping visits, day trips to nearby sights, and other leisure activities.

3M to pay more than $6 5M for violating certain provisions of the Foreign Corrupt Practices Act

3M to pay more than $6 5M for violating certain provisions of the Foreign Corrupt Practices Act
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3M to pay more than $6 5M for violating certain provisions of the Foreign Corrupt Practices Act

3M has 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, the Securities and Exchange Commission said Friday. The SEC order found that employees of a 3M subsidiary based in China arranged for Chinese government officials employed by state-owned health care facilities to attend overseas conferences, educational events, and health care facility visits, presumably as part of the Chinese subsidiary’s marketing efforts. According to the order, from at least 2014 to 2017 3M’s Chinese subsidiary provided Chinese government officials with overseas travel that included guided tours, shopping visits, day trips to nearby sights, and other leisure activities.

3M to pay more than $6 5M for violating certain provisions of the Foreign Corrupt Practices Act

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3M charged with violating Foreign Corrupt Practices Act in China, pays $6 6M settlement

3M charged with violating Foreign Corrupt Practices Act in China, pays $6 6M settlement
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