Who is/are likely or may be liable for insider trading under Australian Law? (select all, if any, that apply)

Under Australian law, the following parties may be liable for insider trading:

1. Company Insiders: These are individuals who have access to non-public, material information about the company. This can include directors, officers, and employees of the company.

2. Family Members and Friends: If a company insider shares non-public, material information with a family member or friend, and that person trades on the information, they can also be held liable for insider trading.

3. Business Associates: If a company insider shares non-public, material information with a business associate, and that associate trades on the information, they can also be held liable for insider trading.

4. Tippees: These are individuals who receive non-public, material information from a company insider or someone who received the information from an insider. If they trade on this information, they can be held liable for insider trading.

5. Other Individuals or Entities: Any other individual or entity that trades on non-public, material information can be held liable for insider trading under Australian law.

Please note that this is a general overview and the specifics can vary based on the circumstances of each case. It's always best to consult with a legal professional for advice on specific situations.