Smoking Gun
Categories: Regulations
Read many mystery novels? Like film noirs? Then this term is perfect for you.
In general, a smoking gun represents any evidence that provides sure-fire proof that someone committed a crime. In the literal sense, it's discovering a dead body, with someone standing over it with a smoking gun in their hand. Easy to put two and two together.
Speaking more broadly, the term relates to any evidence that proves guilt. In the corporate world, it very rarely relates to actual firearms. Instead, for white collar crimes, we're most often talking about emails or some other paper trail.
You committed some light insider trading. You thought you got away with it, but then the SEC seizes your computer and starts rooting through your old correspondence. It turns out that you've got a lot of emails with headings like "Insider Trading :)" and "Hope the SEC Doesn't Read This." Smoking gun. Better get your lawyer on the phone.
