Affiliated Purchaser Law and Legal Definition

An affiliated purchaser includes persons acting in concert with an issuer, distribution participant, or selling security holder for the purpose of acquiring or distributing covered security. An affiliated purchaser also includes a distribution participant's, issuer's, or selling security holder's affiliate that controls the purchases of any covered security by a distribution participant, issuer, or selling security holder, whose purchases are controlled by any such person, or whose purchases are under common control with any such person. The term also signifies a distribution participant's, issuer's or selling security holder's affiliate that regularly purchases securities for its own account or the accounts of others, or that recommends or exercises investment discretion for the buying and selling of securities. The term affiliated purchaser normally cover a parent company of the issuer as well as officers and directors having responsibility for the issuer’s purchases.