Freshfields Bruckhaus Deringer is voting on its plans to introduce a conduct committee and an accompanying protocol that comprises a financial penalty for bad behaviour, 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 behaviour.
