Daylight’s ARS team is comprised of professionals with securities expertise, forensic accountants, litigation support specialists, former prosecutors and former law enforcement. Daylight professionals have extensive experience in the bond market and specific experience with ARS.

Daylight professionals have created a predictive tool that can help clients predict maximum rate calculations for ARS. The predictive tool accommodates all types of ARS, taxable and tax-exempt. Daylight’s predictive tool also calculates historical maximum rates, which enables clients to determine if the auction agent correctly interpreted and applied the relevant documentation.

Many financial institutions and investors do not possess all of the relevant documentation to make the necessary determinations regarding ARS. Daylight professionals have worked with and help clients review, collect and interpret all relevant documentation including, indentures, official statements, amendments, waivers, rescissions and broker dealer agreements.

ARS are currently the subject of many financial and forensic accounting investigations. Daylight professional can conduct an independent investigation or assist clients in conducting the following investigations

• Representations of ARS liquidity
• Representations of the applicable maximum rate
• Selling institutional ARS, while convincing individual clients to purchase ARS
• Adequate reserves
• Sufficient collateral reserves when required