- Using the financial and operating data requirements contained in existing continuing disclosure undertakings, DAC's professional staff constructs templates which allow issuers and obligors to easily complete required tables of annually updated financial and operating data based on the full set of previous disclosure requirements, even where requirements have differed from issue to issue, Once completed by an issuer or obligor, each table is reviewed by DAC's accounting staff to compare information inputted against filing requirements. Any discrepancies generate a request for the missing information or further clarification from the issuer or obligor.
- Anytime the DAC system is used to make filings with the market, our system automatically transmits the filling to the Municipal Securities Rulemaking Board's EMMA system, automatically stores the transmitted document and posts it to the DAC repository, and generates a receipt showing the date and time the information was transmitted and the return receipt from the EMMA system, providing an audit trail evidencing filings for the life of the bonds.
- For filings of disclosures on non-municipal direct/taxable bond issues, the DAC system automatically stores the document and posts it to the DAC repository, as well as generates a receipt showing the date and time the information was posted on the DAC repository, providing an audit trail evidencing filings for the life of the bonds.
- DAC also provides issuers and obligors with reminders of critical filing deadlines and alerts when the rating agencies publish a change in the issuer's or obligor's credit rating. In addition, DAC facilitates the development by issuers and obligors of post-issuance securities compliance programs through model policies and procedures and periodic training though our CPE-aproved webinars.
- DAC's Compliance Review Services assist issuers and obligors in the process of producing or reviewing municipal bond offering documents to determine whether remedial action or additional disclosures are needed in connection with past disclosure failures.
- For more than fifteen years, DAC has had a history of compliance and technological innovation for municipal securities market participants. For more information and to view a white paper discussing DAC's History of Innovation, visit the DAC home page at www.dacbond.com and click on the "DAC - A History of Innovation for Municipal Securities Market Participants."
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