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 behaviour.
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 behaviour would face an “automatic fixed financial penalty” of 20% of their profit share for a period of 12 months.
