This bill, known as the "Restoring the Secondary Trading Market Act," proposes to amend the Securities Act of 1933 to modify the regulatory landscape for certain securities transactions. Its primary objective is to exempt off-exchange secondary trading of securities from state-level regulation. This preemption of state authority is contingent upon the issuer of the securities making current information publicly available . The specific information required for this exemption aligns with either periodic and current reports detailed in 17 CFR 230.257(b) or documents specified in 17 CFR 15c2-11(b). By establishing these conditions, the bill aims to standardize the regulatory environment for certain secondary market transactions, ensuring federal oversight prevails when adequate public disclosure is maintained by the issuer.