For twenty years, DAC has had a history of compliance and technological innovation for municipal securities market participants. DAC acts as disclosure dissemination agent for issuers of municipal bonds, electronically posting and transmitting your information to repositories and investors alike. DAC's uniquely patented system allows issuers of municipal securities to meet both IRS and SEC required filings in a timely, reliable manner.

U.S. Patent No. 7,155,408, 7,801,791, 8,165,937, 8,738,492

Only DAC provides multiple tools and services to assist issuers and obligors in avoiding failed filings, and the DAC repository provides the only centralized platform for obligors to provide integrated disclosure to both their municipal and direct/taxable offerings.

Issuers and obligors who engage DAC as their dissemination agent are entitled to use the "DAC seal" on their municipal bond offering documents. The DAC seal signifies to brokers-dealers that they can rely on DAC's 2001 SEC no-action letter under Rule 15c2-12 when recommending purchases and sales of municipal bonds in the secondary market. DAC clients may request a "Certificate of Compliance" certifying their compliance during the past five years with prior continuing disclosure undertakings.

Underwriters, municipal advisors and bond lawyers use DAC's Compliance Review Services to assist them in the process of producing or reviewing municipal bond offering documents to determine whether remedial action and additional disclosures are needed in connection with past disclosure failures.

For obligors such as hospital systems, universities and other non-governmental entities that incur debt through both municipal bond and direct/taxable offerings, DAC offers an integrated repository for seamless disclosure of obligors' municipal DAC Bond issues as well as non-municipal direct/taxable issues, all in one place for centralized disclosure to investors. The repository function is equally valuable to market participants and issuers alike as DAC meets all SEC requirements as an independent third party, accepted for maintaining all repository functions, as agreed to in its engagements.

DAC provides continuing education through our CPE-approved webinars, taught by leading experts as approved by NASBA. Assistance in developing written SEC policies and procedures. Notifications for rating agencies' actions, as well as a variety of automated reminders for continuing disclosure deadlines.

The DAC business and technology solutions improve the secondary disclosure process in four important ways. 

First, the DAC website is a state of the art Document Management System that provides access to the original document filed to EMMA and assures the integrity of all filings made. The advantages are accuracy, speed and an audit trail for the life of the bond. 

Second, the DAC solution incorporates reminders with a template for the upcoming filing. Users are supported with DAC compliance reviews from the time of initial issuance and throughout the life of the bond, with DAC assisting in the identification what is to be filed and when. 

Third, DAC maintains a receipt of all filings over the life of the bonds along with a copy of the document filed, to provide an audit trail of your ongoing compliance with disclosure obligations, for each bond issue.  Issuer and obligor clients are provided access to the full database of their filings, that is secured and readily accessible, in real-time from anywhere at any time. 

Fourth, issuers and obligors are provided access to the integrated DAC Repository for all investors to view, at no cost, all of their filed disclosures in one centralized location.

Lisa Olsen, Executive Vice President
lolsen@dacbond.com
407-515-1100
407-312-3940 (Cell)

www.DACbond.com