Freshfields Bruckhaus Deringer is voting on its plans to introduce a conduct committee and an accompanying protocol that includes a financial penalty for bad behavior, according to people with knowledge of the process.

The Magic Circle firm drew up plans in October to usher in a new ‘conduct protocol’, through which the firm’s management team could levy a 20% profit share cut for 12 months on partners who are subject to an internal investigation process that results in a final warning about their behavior.

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