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SEC Takes Aim at Smith & Wesson’s FCPA Violations

Joe Mont | July 28, 2014

The Securities and Exchange Commission has charged Smith & Wesson, a Massachusetts-based firearms manufacturer with violating the Foreign Corrupt Practices Act. It alleges that 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.

Smith & Wesson, which the SEC says profited by more than $100,000 from the one contract that was completed before the unlawful activity was identified, agreed to pay $2 million to settle the charges.  The company must also report to the SEC on its FCPA compliance efforts for a period of two years.

According to the SEC’s...

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