As anyone who was following the thread maybe a hundred pages or so back will know, I'm generally in agreement with Skyline Drifter and qos_75 here, it's easy to pile in on the SFL and say they should have acted sooner but much more difficult tosee exactly what they could have done and how.
That doesn't let them off the hook though, Livi's implosion was not difficult to see coming and there were a number of specific and quantifiable warning signs that coule have been acted on, in particular late wages and Inland Revenue payments. In the latter case we could follow the rule that's been introduced down south of a transfer embargo in the even of clubs falling behind with the HMRC, in the case of wages the current rules probably already allow them to act, but it's arguable and fraught with difficulty - they'd be have to act on the catch all terms about conduct contrary to the reputation of the league rather than on a specific rule. But that's something that should be looked at, a specific rule that repeated late wage payments would allow the SFL to make points deductions or any action it sees fit, though the emphasis in both these scenarios should very much be on nipping trouble in the bud rather than allowing it to develop to unmanageable limits before any action is taken.
Other ideas like wage caps are good in theory and might perhaps be explored as well but would probably be more difficult both to implement and police. I don't see why those two things I've suggested there should be particularly difficult even within the existing limitations of the SFL's current organisation - both of them are things that are knowable and measurable without anyone needing to employ a small army of accountants.