Academy 'Condemns' Will Smith's Actions at 2022 Oscars, Launches 'Formal Review Around the Incident'

As listed in the Academy's Standard of Conduct document, unacceptable conduct includes "physical contact that is uninvited and, in the situation, inappropriate and unwelcome"

The Academy of Motion Picture Arts and Sciences has more to say about the moment when Will Smith struck Chris Rock on the Oscars stage during the Sunday night broadcast.

On Monday afternoon, the Academy said in a statement, "The Academy condemns the actions of Mr. Smith at last night's show. We have officially started a formal review around the incident and will explore further action and consequences in accordance with our Bylaws, Standards of Conduct and California law."

In addition, the Academy shared the organization's Standards of Conduct that "provide an ethical framework for Academy members." "Members should act in a manner consistent with the good reputation of the Academy," the Academy stated.

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As listed in the document, unacceptable conduct includes "physical contact that is uninvited and, in the situation, inappropriate and unwelcome."

The Standards of Conduct also say that if a member is found to have violated the standards, "the Academy may take any disciplinary action permitted by the Academy's Bylaws, up to and including suspension of membership or expulsion from membership."

Inside the Dolby Theatre in Los Angeles on Sunday night, comedian Rock, 57, presented an award, taking time to crack a few jokes, including one about Jada Pinkett Smith's appearance. He made a gag about her hair matching Demi Moore's shaved head in the movie G.I. Jane, which she recently opened up about, revealing it was a result of her years-long struggle with alopecia. Jada, 50, was visibly unamused, rolling her eyes from her seat.

Seconds later, Will, 53, walked onstage and approached Rock, smacking him in front of the audience and millions watching the telecast at home. Back at his table, Will shouted to a stunned Rock: "Keep my wife's name out of your f-----g mouth." Will remained seated with Jada at his table for the rest of the night.

When Will won Best Actor later in the ceremony, he apologized to the Academy and his fellow nominees but did not mention Rock. In his tearful speech, he spoke about acting out of love and protection, saying, "Love makes you do crazy things."

Chris Rock and Will Smith at the Oscars on March 27, 2022. Robyn Beck/getty

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In an initial statement after the show, the Academy said, "The Academy does not condone violence of any form. Tonight we are delighted to celebrate our 94th Academy Awards winners, who deserve this moment of recognition from their peers and movie lovers around the world," it continued, shifting the focus to the newly minted Oscar winners.

Will Packer, who produced this year's Oscars with the first-ever all-Black producing team for the awards show, tweeted afterward, "Welp…I said it wouldn't be boring."

Rock has not yet spoken out since the incident. He declined to press charges.

Chris Rock; Will Smith. Getty (2)

An industry source told PEOPLE, "Behind the scenes there were a lot of people, and different voices and bifurcated opinions, weighing in on what had just happened and what was the best and quickest course of action. People were also checking that Chris Rock was okay."

"Basically there were just minutes to first figure out if it was a stunt and then try and get people on the same page — including the producers, ABC, the Academy, reps who were not all in the same place or all looking at their phones in real time, and even to see if Chris wanted to press charges," the source explained.

The source added that "having Will removed was definitely discussed seriously."

"You can't plan for something like this and make a split-second decision that needs everyone's buy-in, and in any iteration that would have consequences," the insider said.