1. A person or a group of individuals who are tasked with assuming the responsibility for the control and regulation of an activity that is fair to all participating parties. They are also given the power to penalize parties who acts unfairly. For example, officials can fine companies that violate laws such as the antitrust laws during a merger, or the environmental law. 2. An individual who holds a title authority or a position in an office. For example, a supervisor holds the authority to make help his subordinate employees on behalf of the company

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