• Smith & Wesson Holstered by the SEC Over FCPA Violations: Lessons Learned
  • August 4, 2014 | Author: Robert G. Marasco
  • Law Firm: Procopio, Cory, Hargreaves & Savitch LLP - San Diego Office
  • Smith & Wesson, the iconic American firearms manufacturer, settled a case on July 28, 2014, with the Securities and Exchange Commission (“SEC”) for multiple violations of the Foreign Corrupt Practices Act (“FCPA”). Fortunately for the rest of us, the case provides helpful guidance about what not to do and how to respond when FCPA violations are uncovered. As noted in a prior alert, making sure you are compliant now, before there is a problem, can be the difference between devastating penalties and avoiding charges altogether. Similarly, the manner in which a company reacts to FCPA violations can be equally significant, as the Smith & Wesson case demonstrates. If your business is considering conducting business overseas or already does so you need to ensure you are FCPA compliant, regardless of your business size.