Another notable penalty option in finance (though I don't know how strong a disincentive it is in practice) is "You, personally, will be barred from working in

Another notable penalty option in finance (though I don't know how strong a disincentive it is in practice) is "You, personally, will be barred from working in the industry." Disbarring lawyers who do things that they know won't hold up in court seems like an interesting policy option here. Also, one complexity is that you want to phrase it in a way that respects the power differential. It is basically expected in the adversarial system that you raise all the arguments you think might work, and one potential way this plan could rot is "Public defenders get disbarred/imprisoned for making good-faith arguments that ended up not convincing a judge."