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 related to exemptions from registration requirements for securities offerings, advisers to certain private funds, and merger and acquisition brokers.

Upon approval by the Governor, this joint resolution will take effect, allowing the updated regulations to be implemented. The Office of the Attorney General had previously published a Notice of Drafting regarding these regulations on September 27, 2024, indicating the intent to revise the current legal framework surrounding securities exemptions.