commission

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commission

n. 1) a fee paid based on a percentage of the sale made by an employee or agent, as distinguished from regular payments of wages or salary. 2) a group appointed pursuant to law to conduct certain government business, especially regulation. These include from the local planning or zoning commission to the Securities and Exchange Commission or the Federal Trade Commission.

commission

(Act), noun accomplishment, actualization, actuation, attainment, carrying out, completion, consummation, discharge, dispatch, doing, effecting, effectuation, enactment, enforcement, execution, exercise, exercising, fruition, fulfilment, implementation, inflicting, infliction, making, mandatum, operation, realization, transaction
Associated concepts: commission of crime

commission

(Agency), noun advisory group, appointed group, board, board of inquiry, body of commissioners, body of delegates, body of deputies, bureau, cabinet, consultants, convocation, council, delegation, deliberative group, embassy, executive committee, investigating committee, planning board, representatives, standing committee, trustees
Associated concepts: advisory body, Federal Trade Commission, Municipal Commission, Public Service Commission

commission

(Fee), noun allotment, allowance, bonus, compensation, consideration, defrayment, dividend, earnings, emolument, extra commensation, increment, interest, pay, pay-off, payment, percentage, percentage compensation, portion, proceeds, profit, recompense, reimbursement, remuneration, return, reward, salary, share of profits, stipend, wage
Associated concepts: broker's commission, commission merchant, compensation, fees, finder's commission, profits
See also: act, agency, allow, appoint, assign, assignment, authorize, bestow, board, brokerage, bureau, charge, command, commit, committee, constitute, delegate, delegation, deputation, designate, designation, detail, dictate, direction, discharge, duty, earnings, embassy, employ, employment, empower, engage, entrust, establish, hire, induct, infliction, instruction, interest, invest, let, mission, nominate, obligation, performance, permit, post, retain, share, task, transaction, undertaking, vest, warrant

COMMISSION, contracts, civ. law. When one undertakes, without reward, to do something for another in respect to a thing bailed. This term is frequently used synonymously with mandate. (q.v.) Ruth. Inst. 105; Halifax, Analysis of the Civil Law, 70. If the service the party undertakes to perform for another is the custody of his goods, this particular sort of, commission is called a charge.
     2. In a commission, the obligation on his part who undertakes it, is to transact the business without wages, or any other reward, and to use the same care and diligence in it, as if it were his own.
     3. By commission is also understood an act performed, opposed to omission, which is the want of performance of such an act; is, when a nuisance is created by an act of commission, it may be abated without notice; but when it arises from omission, notice to remove it must be given before it is abated. 1 Chit. Pr. 711. Vide Abatement of Nuisances; Branches; Trees.

COMMISSION, office. Persons authorized to act in a certain matter; as, such a matter was submitted, to the commission; there were several meetings before the commission. 4 B. & Cr. 850; 10 E. C. L. R. 459.

COMMISSION, crim. law. The act of perpetrating an offence. There are crimes of commission and crimes of omission.

COMMISSION, practice. An instrument issued by a court of, justice, or other competent tribunal, to authorize a person to take depositions, or do any other act by authority of such court, or tribunal, is called a commission. For a form of a commission to take. depositions, see Gresley, Eq. Ev. 72.

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It was a breach of fiduciary duty, conflict of interest, unsafe and unsound practice, and violation of law, for Respondent to divert portions of customer loan proceeds on 13 home equity loans without the customers' knowledge, consent, or approval; falsify internal loan documents in order to hide from the Bank the fact that he was charging customers broker fees that exceeded the Bank's broker fee cap; and give customers misleading HUD-1 Settlement Statements that masked the broker fees charged.
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Specifically, MRB claimed the lender ignored blemished credit and payment histories, approved loans with debt-to-income ratios that exceeded the Department of Housing and Urban Development's (HUD's) requirements and allowed borrowers to be charged improper broker fees, according to a press release.
By using a private-placement approach, the state was able to avoid the significant broker fees that would otherwise accompany a public offering," she said.
You should also be wary of lender or broker fees, says Gardner: "Some of the headline interest rates may not include fees which would normally not apply on an unsecured loan.
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No broker fees or commissions will be paid in connection with this Offering.