Defendant Name:
Smith & Wesson Holding Corporation
Defendant Type:
Public Company
Document Reference:
2014-148
Document Details
Legal Case Name
In the Matter of Smith & Wesson Holding Corporation
Document Name
SEC Charges Smith & Wesson With FCPA Violations
Document Date
28-Jul-2014
Document Format
Administrative Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
Summaries On July 28, 2014, the SEC announced that it charged Smith & Wesson Holding Corporation ("Smith & Wesson") with violating the Foreign Corrupt Practices Act ("FCPA") when employees and representatives of the U.S.-based parent company authorized and made improper payments to foreign officials while trying to win contracts to supply firearm products to military and law enforcement overseas. According to the SEC's order instituting a settled administrative proceeding, Smith & Wesson, without admitting or denying the findings, agreed to pay $2 million to settle the SEC's charges and report to the SEC on its FCPA compliance efforts for a period of two years.
Disgorgement & Penalty Information
Resolutions
The company must report to the SEC on its FCPA compliance efforts for a period of two years.
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution