Inside Lehman Brothers: A Case Study in Compliance, Corporate Misconduct, Whistleblowing and Ethical Decision Making 

Dec. 15, 2020 - Aug. 15, 2021
Online

Inside Lehman Brothers: A Case Study in Compliance, Corporate Misconduct, Whistleblowing and Ethical Decision Making


This course’s overall objective is the promotion of professionalism – i.e., professional ethics, encompassing the personal and corporate standards of behavior expected by legal and business professionals

The case study (documentary film Inside Lehman Brothers) chronicles the story of Oliver Budde, former in-house counsel (associate general counsel) of the Lehman Brothers, and the mostly-female mid-tier manager whistleblowers, who all paid a steep price in the 2008 American subprime mortgage crisis. Many of the top-positioned men remained untouched. 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. The overall objective of this course is the promotion of professionalism – i.e., professional ethics, which encompasses the personal and corporate standards of behavior expected by legal and business professionals to prevent corporate misconduct and fraud.

The course Inside Lehman Brothers: A Case Study in Compliance, Corporate Misconduct, Whistleblowing and Ethical Decision Making is a visual legal advocacy research project supported by the Hennick Centre for Business and Law of York University (a joint initiative of Osgoode Hall Law School and the Schulich School of Business at York University).

Specific Learning Objectives:

  • Overall, the course discusses 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
  • Discuss the importance for lawyers drafting corporate policies and compliance programs that are promoted by the firm’s senior management and understood by all employees in order to serve as best practices for analyzing legal risks and ethical dilemmas
  • Duty to maintain confidentiality, including justified and permitted disclosure (may include discussion of privilege) and corporate whistleblowing in the context of responding appropriately to client dishonesty or fraud (e.g. mortgage fraud and perjury as illustrate in the case study/film)
  • 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

 

Post-Screening Experts:


Moderator: Garrick Apollon, LLB, JD, LLM, LLCM
Lori-Ann Beausoleil, CPA, CA. Partner, Forensic Services, PwC Canada, National Forensic Services Leader for PwC Canada, Former Chief Inclusion Officer, PwC Canada
Professor Mary G. Condon, Dean of Osgoode Hall Law School, York University
Professor Eugene Soltes, Harvard Business School
Alison Fitzgerald Of Counsel, Norton Rose Fulbright Canada

 

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    COST
    Exclusive to CBA Members: $89.99
    (compared to $199)
    Plus applicable taxes

    FEATURE FILM
    Inside Lehman Brothers (a film by Jennifer Deschamps) 

    DURATION
    Feature film: 75 minutes
    Post-screening panel discussion: 65 minutes

    PROGRAM LANGUAGE
    English

    Viewer discretion is advised. This film contains Adult Language. This film may not be suitable for all audiences.

    View other UDocs films available to CBA members

 

CONTACT INFO

pd@cba.org 
613-237-2925; 1-800-267-8860 

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