 Regulation CF offerings would prescribe rules governing the offer and sale of securities under new Section 4(a)(6) of the Securities Act of 1933.Individual investments in a 12-month period are limited to the greater of $2,000 or 5 percent of annual income or net worth, if annual income or net worth of the investor is less than $100,000; and 10% of annual income or net worth (not to exceed an amount sold of $100,000), if both annual income and net worth of the investor is $100,000 or more (these amounts are to be adjusted for inflation at least every five years); and transactions must be conducted through an intermediary that either is registered as a broker or is registered as a new type of entity called a "funding portal".On October 23, 2013, the SEC unanimously approved the progress of the crowdfunding bill and SEC commissioners explained that the commission's goals are to ease online fundraising for small companies and fraud protection for investors.