Enforcement actions will also offer a deterrent effect. The SEC sanctioned individual auditors and attorneys last year in relation to fraud cases, which were not limited to publicly-listed companies. The UK Solicitors Regulation Authority is also on a path to being able to issue "unlimited fines" for certain economic crimes. Lily Fang, Dean of Research at business school Insead, says past scandals like the Wirecard collapse show the need to prevent standards loosening during times of market optimism.