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


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

> any person who engages either for all or part of his time, directly or indirectly, as agent, broker, or principal, in the business of offering, buying, selling, or otherwise dealing or trading in securities issued by another person

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

