An employee of an insurance company who is responsible for determining whether to issue a policy and how much to charge for the coverage provided. A person who buys stock from the issuer with an intent to resell it to the public. A person or entity who guarantees the sale of newly issued securities by purchasing all or part of the shares for resale to the public.
As defined by 15 U.S.C. § 77b (a)(11), the term “underwriter” means any person who has purchased from an issuer with a view to, or offers or sells for an issuer in connection with, the distribution of any security, or participates or has a direct or indirect participation in any such undertaking, or participates or has a participation in the direct or indirect underwriting of any such undertaking; but such term shall not include a person whose interest is limited to a commission from an underwriter or dealer not in excess of the usual and customary distributors’ or sellers’ commission. As used in this paragraph the term “issuer” shall include, in addition to an issuer, any person directly or indirectly controlling or controlled by the issuer, or any person under direct or indirect common control with the issuer.
See Securities for more information.