Smith is also not permitted to attend any other events held by the Academy of Motion Picture Arts and Sciences over the next decade.
The Board's decision stopped short of revoking the best actor award Smith won last month for"King Richard," or barring him from future Oscar nominations or wins.
Governors from the Academy -- Hollywood's most prestigious group of some 10,000 filmmakers, which organizes the Oscars -- convened on Friday morning to discuss actions against Smith. "The 94th Oscars were meant to be a celebration of the many individuals in our community who did incredible work this past year; however, those moments were overshadowed by the unacceptable and harmful behavior we saw Mr. Smith exhibit on stage," said the Academy letter.
But taking away Smith's award was considered unlikely, as the likes of Harvey Weinstein and Roman Polanski did not have their Oscars revoked when they were expelled from the Academy in the wake of sexual assault scandals. Rock was asked by Los Angeles police whether he wanted to file a report against Smith, but he declined.
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