Affirmative obligation

Affirmative obligation

A New York Stock Exchange rule that governs the behavior of specialists. Affirmative obligation is the mandate of the specialists to step in and act as either the buyer or the seller when public investor orders exist do not match up naturally. Also known as positive_obligation. Related: negative_obligation.

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.
References in periodicals archive ?
He said that those doing business with the federal government have an affirmative obligation to ensure the accuracy of the claims they make.
An insurance company has an affirmative obligation to provide written notice of a disclaimer of coverage as soon as is reasonably possible, even where the policyholder's own notice of claim to the insurer is untimely (see Insurance Law [section] 3420[d]; Hartford Ins.
With the new legislative package, the FMSA has placed an affirmative obligation on financial institutions to report AML activities, including designation and placement of the offending party on the FMSA website as a "designated person.
The new rules put the affirmative obligation on the advisor to be prepared to defend his or her compensation as reasonable or risk losing the Best Interest [Contract] Exemption.
Aside from the Constitution, the petition added that Comelec also disregarded basic international law provisions on citizenship as well as the applicable international human rights instruments ratified by the Philippines that created an affirmative obligation to consider foundlings as natural-born citizens of the country.
There is no imminent danger it creates and no provider has an affirmative obligation to monitor and make determinations about the theoretically harmful nature of speech a site may contain.
It is, Bolick says, arguable that the Guarantee Clause is inapplicable in the Arizona case because the clause is ''an affirmative obligation on the national government rather than a restriction on the states.
There is no divestment requirement, according to the regulation: "This section does not create an affirmative obligation for the holder of blocked tangible property .
In this regard, Seagate, and subsequent case law, actually enhanced the value of patent opinions when it abolished the affirmative obligation to obtain the advice of counsel.
Then, in its 2007 Seagate decision, the Federal Circuit expressly abandoned the "duty of due care" standard and stated that there was no affirmative obligation to obtain an opinion of counsel.
ABA believes that the National Credit Union Administration has an affirmative obligation to limit this type of expansion," wrote ABA Senior Economist Keith Leggett in the letter to the agency.
Directors have an affirmative obligation to protect and advance the interests of the corporation and to absolutely refrain from engaging in conduct that harms it.

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