补充信息:委员会正根据1940年投资顾问法案修改美国联邦法规商品与证券交易部分第275节第205-3条款(以下简称205-3条款)。~①一、引言投资顾问法案第205(a)(1)部分总体上限制了投资顾问缔结、扩展、更新或履行任何以客户资本收益或资本增值为基础给付佣金的投资咨询合同。~②国会在1940年限制此类佣金协议(亦称为绩效薪酬),以此来保护咨询客户避免投资顾问通过给客户资金带来不当风险 Additional Information: The Commission is revising Section 205-3 (Section 205-3) of section 275 of the Code of Federal Regulations on Commodities and Securities under the Investment Advisers Act of 1940. I. INTRODUCTION Section 205 (a) (1) of the Investment Advisers Act generally restricts investment advisers from concluding, expanding, renewing or fulfilling any investment advisory contract that commissions on the basis of the return on capital or the capital appreciation of the client. ~ (2) Congress limits such commission agreements (also known as performance pay) in 1940 to protect consultants from avoidance of inappropriate risk to client funds by advising clients