This engaging documentary chronicles the story of Oliver Budde, former in-house counsel (associate general counsel) of the Lehman Brothers, and the mid-tier manager whistleblowers, who all paid a steep price in the 2008 American subprime mortgage crisis. Although today the banks have recuperated and are back to business as usual, Inside Lehman Brothers is the cautionary tale for how damaging fraudulent behaviour can be. The demise of the giant financial global institution Lehman Brothers, a bankruptcy estimated at $639 billion, accelerated the global financial crisis and sparked debate in Washington over ethical issues on Wall Street and in other financial markets around the world.

Overall, the course is founded on the ethical lessons we can learn from Lehman Brothers’ massive bankruptcy that has been identified as one of the major causes of the 2008 global financial crisis. At the end of this course, you will complete a short quiz based on the documentary film and post-screening discussion.

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Upon completing this course, you will be able to:

• Understand the best risk management practices to mitigate corporate misconduct and fraud, and the promotion of professionalism and ethics for legal and business professionals.
• Discuss the duty to maintain confidentiality, including justified and permitted disclosure, ethical considerations for lawyers.
• Discuss required conduct of lawyers arising from statutes, legislation or other legal authorities in the financial sector or banking.
• Understand the importance for lawyers drafting corporate policies and compliance programs that are promoted by the firm’s senior management and understood by all employees.
• Understand your obligation to notify the client or insurer of errors or omissions such as negligent or intentional errors in financial reporting as illustrated in the case study/film.