There is few rules and regulations. Is it a grammatically correct sentence? I mean whether it be IS or ARE
As @Varun Nair says in the comment, it should be
There are a few rules and regulations.
“A few rules and regulations” is plural, so you have to use “are”.
You should also say a few rather than few in this context, probably. “A few” means “a number of” or “some.” “Few” by itself means “not many.” I assume the former is what you mean, unless your goal is to point out how small the number of rules and regulations is.