- videocam On-Demand Webinar
- card_travel Banking and Commercial Finance
- schedule 90 minutes
Equity Financing: Using Stocks, Bonds, Mutual Funds and Other Investment Vehicles as Collateral
Navigating the Interplay of Regulations U and X, Rule 144, and UCC Articles 8 and 9 for Lenders and Borrowers
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About the Course
Introduction
This CLE course will prepare business and finance counsel in structuring loan transactions in which stock, bonds, mutual funds and other investment vehicles are used as collateral to secure the loan. The program will address how to properly perfect the security interests while complying with Regulations U and X, Rule 144, and UCC Articles 8 and 9.
Description
Using stock, bonds and similar equity interests as collateral presents challenges due to unique planning and documentation issues, including consideration of securities laws and entity statutes.
Counsel must navigate the interplay between UCC Articles 8 and 9, Rule 144 and Margin Regulations (U and X)—and understand the bankruptcy safe harbors and foreclosure issues to protect their clients and issue opinions.
Corporate financing for tender offers, corporate acquisitions, mergers, stock buy backs, and going-private transactions require lenders and borrowers to incorporate knowledge of the regs to structure the loan agreement.
Listen as our panel of finance practitioners provides best practices for advising clients in structuring loan transactions in which securities, bonds and other investment vehicles are used as collateral. The panelists will offer their perspectives and experiences on the potential pitfalls involved in creating and perfecting the security interests while complying with Margin Regulations, Rule 144 and UCC Article 8.
Credit Information
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Live Online
On Demand
Date + Time
- event
Thursday, July 21, 2016
- schedule
1:00 PM E.T.
- Primary regulatory issues related to using collateral as investment vehicle interests to secure a loan
- Margin Regulations U and X
- Rule 144
- Bankruptcy safe harbors
- Requirements and methods for creating security interests in stock and other investment vehicles
- Lender remedies upon default
- Best practices for structuring the loan agreement and avoiding common pitfalls
The panel will review these and other key issues:
- What are the regulatory issues related to using collateral as investment vehicle interests to secure a loan that are relevant to counsel?
- What are the best practices for finance counsel in structuring the loan agreement?
- What steps should lenders’ counsel take to avoid common pitfalls in creating and perfecting security interests in stock, bonds and other investment vehicles?
An error occurred while processing the template.
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> An error occurred while processing the template.
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> An error occurred while processing the template.
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> An error occurred while processing the template.
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> Recommended Resources
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