Post-Issuance Securities Compliance
Post-Issuance Tax Compliance
Who we are
- Digital Assurance Certification, LLC (or "DAC"), an accounting firm and former affiliate of Ernst & Young, LLP, provides post-issuance securities and tax compliance services to municipal securities market participants.
- In order to assist our issuer and obligated person clients in complying with their SEC Rule 15c2-12 requirements, we provide industry-leading support services, such as compliance templates for operating and financial data, reminders of critical filing due dates and alerts regarding rating changes, and model policies and procedures. We also provide training through our CPE-approved webinars, taught by leading experts. As a result of this hands-on approach, 94% of DAC's clients meet their 15c2-12 reporting requirement deadline.
- Issuers and obligated persons who engage DAC as their dissemination agent also are entitled to use the "DAC seal" on their offering documents. The DAC seal signifies to brokers and dealers that they can rely on DAC's 2001 SEC no-action letter in recommending the purchase and sale of bonds in the secondary market. DAC clients also can request a "Certificate of Compliance" certifying their compliance during the past five years with prior continuing disclosure undertakings.
- In addition, DAC provides Compliance Review Services for underwriters and financial advisors so it can be determined, prior to publishing a preliminary offering document, whether remedial action and disclosure of past filing failures is necessary.
- DAC also assists its issuer and obligated person clients in complying with their post-issuance tax compliance requirements by providing post-issuance record retention and software which allows clients not only to track and model private business use, but also prepare Schedule K to Form 990.