Keys To Equity Financing: The Compliance Requirements for Lenders and Borrowers

Structuring Loans Secured by Stock, Hedge Fund Shares, 40 Act Companies and Other Investment Vehicles

Recording of a 90-minute premium CLE webinar with Q&A

Conducted on Thursday, May 23, 2013

Recorded event now available

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Program Materials

This CLE webinar will provide business counsel with a review of Regulations U and X, Rule 144, and UCC Articles 8 and 9, focusing on how to structure financing secured by stock, hedge fund shares, 40 Act companies and other investment vehicles.


Using stock, hedge fund shares and similar equity interests as collateral raises unique regulatory issues. 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 commercial finance practitioners provides best practices for advising clients on structuring financing documents to protect investment vehicle interests as collateral when structuring loans, while complying with Margin Regulations, Rule 144 and UCC Article 8.



  1. Primary regulatory issues related to using collateral as investment vehicle interests to secure a loan
    1. Margin Regulations U and X
    2. Rule 144
    3. Bankruptcy safe harbors
  2. Requirements and methods for creating security interests in stock, hedge fund shares, 40 Act companies
  3. Foreclosure issues
  4. Best practices for structuring the loan agreement and avoiding common pitfalls


The panel will review these and other key questions:

  • 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 foreclosure concerns should counsel consider and address?
  • What are the key bankruptcy safe harbors that counsel should be able to navigate?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Craig S. Unterberg
Craig S. Unterberg

Haynes & Boone

He concentrates his practice in the areas of representing borrowers and lenders in secured and unsecured lending and...  |  Read More

Ransom, R. Todd
R. Todd Ransom

Haynes & Boone

Mr. Ransom concentrates his practice in the areas of finance and energy. His finance practice includes the...  |  Read More

Lin Yu
Lin Yu
Director and Counsel
Credit Suisse Securities

A company Director, her practice focuses on equity-linked derivatives and financing backed by margin stock.

 |  Read More

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