The bill, S. 576, is a joint resolution introduced in the South Carolina Senate to approve regulations proposed by the Attorney General concerning securities exemptions, specifically designated as Regulation Document Number 5365. This resolution is in accordance with Article 1, Chapter 23, Title 1 of the South Carolina Code of Laws. The regulations aim to update and amend existing rules regarding exemptions from registration requirements for various securities offerings, including those related to private fund advisers and merger and acquisition brokers.

Upon approval by the Governor, this joint resolution will take effect, allowing the updated regulations to be implemented. The Attorney General's office previously published a Notice of Drafting regarding these changes on September 27, 2024, indicating a formal process for stakeholder input and transparency in the regulatory update.