Eduardo Espinosa and Michael Napoli will speak on a session titled “Understanding the Role of Receivers in Recovering Assets for Investors” at the North American Securities Administrators Association (NASAA) 2024 Enforcement Training. The session will introduce participants to the nuts and bolts of receivership—the “when, why, how, and what now” of the life of a receiver in a case.

Napoli and Espinosa, both experienced receivers, will review the steps to take before and after asking the court for appointment in a case, including how to identify a receiver. The speakers will also help regulators understand what receivers can and can’t do, and how a receiver interacts with regulators and others. At the conclusion of this presentation, participants will be able to:

• Identify when to seek the appointment of a receiver and how to identify appropriate candidates to recommend to the court.
• Explain the scope and limits of the receiver’s duties and authority.
• Recognize issues that can arise in the relationship among the receiver, the regulator, the court, and other stakeholders.

The North American Securities Administrators Association (NASAA) represents state and provincial securities regulators in the United States, Canada, and Mexico. NASAA members are the closest regulators to local communities, small businesses, and the investing public throughout North America. Members of NASAA have a multifaceted mission of protecting investors from fraud and abuse, conducting investor education, providing guidance and assistance via the established regulatory framework, and ultimately helping power the North American economy by ensuring the integrity of the financial markets.