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BROKER

Someone who buys and sells securities for clients for a commission; regulated in part by federal authorities (especially the Securities and Exchange Commission); in part by state agencies; and in part by agencies set up by the securities industry.

Someone who has supervisory power over a real estate sales company; largely regulated by state authorities.

Those who are engaged for others, in the negotiation of contracts, relative to property, with the custody of which they have no concern.

A broker is, for some purposes, treated as the agent of both parties; but in the first place, he is deemed the agent only of the person by whom he is originally employed; and does not become the agent of the other until the bargain or contract has been definitely settled, as to the terms, between the principals.

There are several kinds of brokers, as, Exchange Brokers, such as negotiate in all matters of exchange with foreign countries.

Ship Brokers. Those who transact business between the owners of vessels, and the merchants who send cargoes.

Insurance Brokers. Those who manage the concerns both of the insurer and the insured.

Pawn Brokers. Those who lend money, upon goods, to necessitous people, at interest.

Stock Brokers. Those employed to buy and sell shares of stocks in corporations and companies.

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