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                 No. 17-1077


                   IN THE
   #uprene Court of tMe   Wuiteb  States

              FRANCIS V. LORENZO,
                               Petitioner,
                     V.
      SECURITIES AND EXCHANGE COMMISSION,
                              Respondent.

         On a Writ of Certiorari to the
         United States Court of Appeals
       for the District of Columbia Circuit

BRIEF  OF THE NORTH   AMERICAN  SECURITIES
   ADMINISTRATORS   ASSOCIATION,   INC., AS
AMICUS  CURIAE  IN SUPPORT  OF RESPONDENT


MICHAEL B. EISENKRAFT*
LAURA H. POSNER**
COHEN MILSTEIN SELLERS
& TOLL PLLC
88 Pine Street, 14th Floor
New York, NY 10005
(212) 838-7797
meisenkraft@cohenmilstein.com

ERIC S. BERELOVICH
COHEN  MILSTEIN SELLERS
& TOLL PLLC
1100 New York Ave., NW, #500
Washington, DC 20005


A. VALERIE MIRKO
ZACHARY T. KNEPPER
NORTH AMERICAN
SECURITIES
ADMINISTRATORS
ASSOCIATION, INC.
750 First Street, N.E.,
Suite 1140
Washington, DC 20002

* Counsel of Record
** Bureau Chief, New
Jersey, Bureau of
Securities. 2014 - 2017


October 12, 2018