I am a foreign student. I'm trying to explore the regulation of insider trading in Australia. There's one thing I can't understand. insider can be held criminally, administratively an civil liable.
1043A Prohibited conduct by person in possession of inside information:
…Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). For defences to a prosecution based on this subsection, see section 1043M.
Note 2. This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see sections 1043N and 1317S…
Could you explain who determines what type of liability should be applied insider for violation of the rules?
Are there criteria for separating an offence from a crime?
I would appreciate your assistance with this matter.
1043A Prohibited conduct by person in possession of inside information:
…Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). For defences to a prosecution based on this subsection, see section 1043M.
Note 2. This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see sections 1043N and 1317S…
Could you explain who determines what type of liability should be applied insider for violation of the rules?
Are there criteria for separating an offence from a crime?
I would appreciate your assistance with this matter.