Question & Answer

Question: Under the interim exemption procedure, is a company that was unexemptable because of the nature of its business, automatically exempt if it is listed on the stock exchange?

Answer: Yes. Some of those companies that either required special treatment or were totally unexemptable are now automatically exempt if they are publicly traded and listed on the stock exchange. All you have to do is file the $0 CTR. This seems like quite a change, but it is for real. However, continue to watch closely any such company that is not publicly owned or listed on a stock exchange. Their status has not changed.

Copyright © 1996 Compliance Action. Originally appeared in Compliance Action, Vol. 1, No. 13, 8/96