Freshfields Bruckhaus Deringer is planning to set up a “conduct committee” and introduce heavy, automatic financial penalties for partners that require a warning about their behavior.
According to a person with knowledge of the matter and documents seen by Legal Week, a new “conduct protocol” would mean partners who are subject to an internal investigation process that results in a final warning about their behavior would face an “automatic fixed financial penalty” of 20% of their profit share for a period of 12 months.
