Underwriter

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underwriter

n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite)

UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer.
     2. By this act he places himself as to his responsibility, in the place of the insured. He may cause a re-insurance (q.v.) to be made for his benefit; and it is his duty to act with good faith, and, without quibbling, to pay all just demands against him for losses. Marsh. Ins. 45,

References in periodicals archive ?
The SEC also found that the underwriting firms "failed to conduct adequate due diligence to identify the misstatements and omissions before offering and selling the bonds to their customers."
Finally, three business days before the scheduled sale date, the person in charge of competitive bidding at one of the major municipal bond underwriting firms made a public statement, which was published the following day in The Bond Buyer, announcing that the firm would not participate in Pittsburgh's sale and, furthermore, it would not support the issue in secondary market trading.
Affiliated directors from prestigious underwriting firms held four seats or 13% of the lead underwriting seats.
The Securities and Exchange Commission recently hit Edward Jones with a $20 million fine for overcharging investors for the bonds sold to them and in June charged 36 municipal underwriting firms for fraudulent offerings.
I calculate market share of the seasoned equity market over the period of the study, crediting underwriting firms created by the combination of existing firms with the volume of their predecessors.
The underwriting firms also allegedly failed to conduct adequate due diligence to identify the misstatements and omissions before offering and selling the bonds to their customers.