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 ?
* Affirmative obligations by companies which decide to collect data ("controllers") and process the data ("processors") to protect personal information and take action when that information is compromised
The ten issues "address matters of different moral weight and urgency", some involve intrinsically evil acts, which can never be approved while others "involve affirmative obligations to seek the common good."
When corrections professionals do not understand deaf culture, or do not realize they have affirmative obligations pursuant to federal disability rights law, deaf inmates do not receive equal access.
It is possible, however, that courts' refusal to extend affirmative constitutional duties for welfare and abortions may be more the result of judicial skepticism about the reach of those rights than reluctance to create affirmative obligations. (56) Where the stakes of a constitutional case implicate expanding contested rights--like the right to abortion--it is perhaps regrettable but not terribly surprising that courts have been hesitant to expand protections.
In view of these current understandings of ownership, rules were supposedly adopted in Anglo-American property law to free owners from the specter of affirmative obligations. (102) Professor James Harris's important work on the concept of property in law concludes that "property-duty ...
The license agreement should clearly distinguish between royalty payments (including their amounts) for the use of the intellectual property and fees for continuing affirmative obligations to be performed by the licensor, including maintenance, support and upgrades.
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.
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.
(4) These distinctions are particularly acute in litigation over the affirmative obligations state constitutions impose on state legislatures.

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