The Collaborative International Dictionary of English v.0.48:

Fasces \Fas"ces\, n. pl. [L., pl. of fascis bundle; cf. fascia a
   band, and Gr. fa`kelos a bundle.], (Rom. Antiq.)
   A bundle of rods, having among them an ax with the blade
   projecting, borne before the Roman magistrates as a badge of
   their authority.
   [1913 Webster]

WordNet (r) 3.0 (2006):

fasces
    n 1: bundle of rods containing an axe with the blade protruding;
         in ancient Rome it was a symbol of a magistrate's power; in
         modern Italy it is a symbol of fascism