### Question
How is the "underwriter" defined?


### Answer
The term **underwriter** is defined in *15 U.S.C. § 77ccc* as follows -

> 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

#### Citation:
  - *15 U.S.C. § 77ccc*
  - Heading: **CHAPTER 2A-SECURITIES AND TRUST INDENTURES > SUBCHAPTER III-TRUST INDENTURES**

