Han er oppvokst i Porsgrunn og tok sin utdannelse ved BI i Telemark og University of Oregon (USA). Lie publiserte en rapport om tilbakedatering av opsjoner som førte til at SEC innledet etterforskning om dette var illegal praksis.
I 2007 fikk han plass på Time Magazines liste over de 100 mest innflytelsesrike menneskene i verden.
er en norsk førsteamanuensis i finansiell økonomi ved University of Iowa.Beyond Sarbanes-Oxley, the SEC approved changes to the listing standards of the NYSE and the Nasdaq in 2003 that require shareholder approval for compensation plans.It also approved requirements that mandate that companies outline the specifics of their compensation plans to their shareholders.They also fully disclose this compensation to investors, and deduct the cost of issuing the options from their earnings as they are required to do under the Sarbanes-Oxley Act of 2002.But, there are also some companies out there that have bent the rules by both hiding the backdating from investors, and also failing to book the grant(s) as an expense against earnings.
On the surface - at least compared to some of the other shenanigans executives have been accused of in the past - the options backdating scandal seems relatively innocuous.