[dragonwriter]

> Fines like this typically punish shareholders

Good.

That should motivate shareholders to assure that they can hold management of firms they invest in accountable.

> and lower level employees

Which is regrettable, but I’m not sure how any form of corporate sanction could avoid that.

[entangledqubit]

You could have the fines be "heavily" pulled out of compensation packages for the higher ups who actually have the power to change the organization... but then they'd probably just leave and screw up some other place?

Do boards generally try to claw back compensation in these sorts of situations? (Just as they have been doing in some of the recent cases involving financial shenanigans.)