diff --git a/net/bluetooth/smp.c b/net/bluetooth/smp.c
index 0474bae..de7de58 100644
--- a/net/bluetooth/smp.c
+++ b/net/bluetooth/smp.c
@@ -2313,8 +2313,6 @@
 	if (!conn)
 		return 1;
 
-	chan = conn->smp;
-
 	if (!hci_dev_test_flag(hcon->hdev, HCI_LE_ENABLED))
 		return 1;
 
@@ -2328,6 +2326,12 @@
 		if (smp_ltk_encrypt(conn, hcon->pending_sec_level))
 			return 0;
 
+	chan = conn->smp;
+	if (!chan) {
+		BT_ERR("SMP security requested but not available");
+		return 1;
+	}
+
 	l2cap_chan_lock(chan);
 
 	/* If SMP is already in progress ignore this request */