affirmative obligations

Affirmative Obligation

Financial Industry Regulatory Authority requirements on NASDAQ market makers. Affirmative obligations include but are not limited to ensuring a two-sided market always exists, reporting price and trading volume within 90 seconds of each transaction, and participating in the Small Order Execution System. It should not be confused with an affirmative covenant.

affirmative obligations

Requirements imposed by the National Association of Securities Dealers on Nasdaq market makers who must meet certain standards, including timely reporting of price and volume data, participating in the Small Order Execution System, making a two-sided market on a continuous basis, and quoting firm prices.
References in periodicals archive ?
Stated more directly, I am hesitant to impose affirmative obligations on the state where that obligation is not explicit in the language of the constitution.
Ganim (12) with the issue of "whether, under the state constitution, the state of Connecticut has an affirmative obligation to provide its indigent residents with minimal subsistence.
Professor Ray couches his arguments in the context of the growing number of socioeconomic rights in new constitutions that impose affirmative obligations on the governments enforceable by the courts.
The statement imposes affirmative obligations upon the auditor to go beyond the information provided by the entity, and to seek out additional information that may lead to the discovery of misrepresentation or fraud.
In DeShaney, Webster, and Gonzales, the judiciary disavowed the idea of positive social rights by finding that the Constitution affords no affirmative obligations, only negative liberties; government inaction is constitutionally immaterial, and government's failure to act brings no constitutional remedy.
Both Sarbanes-Oxley and the federal Sentencing Guidelines for Business Organizations impose affirmative obligations on corporate executives to implement compliance and ethics programs to address these types of issues.
Securities companies will be required to recognize and act on their affirmative obligations to meet the need for financial services in all the communities they serve.
For general descriptions of two GSEs--Fannie Mae and Freddie Mac--including the benefits they derive from government sponsorship and their affirmative obligations to promote home ownership among lower-income households, see Congressional Budget Office, "Assessing the Public Costs and Benefits of Fannie Mae and Freddie Mac," May 1996; General Accounting Office, "Housing Enterprises: Potential Impacts of Severing Government Sponsorship," May 1996; U.
Both federal and many state laws have been amended in recent years to set forth affirmative obligations of hospitals that offer emergency services to treat (or at least screen) individuals who request treatment.
Free exercise, by virtue of its more limited quality, is essentially a negative right--a shield against government coercion, but one that does not place any affirmative obligations on the government.
Stevens said that Congress has the authority to "impose affirmative obligations on executive and judicial officers of state and local governments as well as ordinary citizens.
In other words, section 253 (c ) of the Telecommunications Act of 1996 does not create any affirmative obligations on local governments to be fair and reasonable .

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