123STA T . 1 6 2 7PUBLIC LA W 111 – 21 —M A Y 2 0, 200 9(E)ac c ounti n gpr actic es, inc l u d ing, m ar k- to-market and f air v alue rules, and treatment of off- b alance s h eet vehicles
( F )ta x treatment of financial products and invest- ments; ( G ) capital re q uirements and regulations on leverage and liquidit y , including the capital structures of regulated and non-regulated financial entities; ( H ) credit rating agencies in the financial system, including, reliance on credit ratings by financial institu- tions and Federal financial regulators, the use of credit ratings in financial regulation, and the use of credit ratings in the securiti z ation markets; ( I ) lending practices and securitization, including the originate-to-distribute model for extending credit and transferring risk; ( J ) affiliations bet w een insured depository institutions and securities, insurance, and other types of nonbanking companies; ( K ) the concept that certain institutions are ‘ ‘too-big- to-fail ’ ’ and its impact on market expectations; ( L ) corporate governance, including the impact of com- pany conversions from partnerships to corporations; ( M ) compensation structures; ( N ) changes in compensation for employees of financial companies, as compared to compensation for others with similar skill sets in the labor market; ( O ) the legal and regulatory structure of the U nited S tates housing market; ( P ) derivatives and unregulated financial products and practices, including credit default swaps; ( Q ) short-selling; ( R ) financial institution reliance on numerical models, including risk models and credit ratings; (S) the legal and regulatory structure governing finan- cial institutions, including the extent to which the structure creates the opportunity for financial institutions to engage in regulatory arbitrage; ( T ) the legal and regulatory structure governing investor and mortgagor protection; (U) financial institutions and government-sponsored enterprises; and ( V ) the quality of due diligence undertaken by financial institutions; ( 2 ) to examine the causes of the collapse of each ma j or financial institution that failed (including institutions that were acquired to prevent their failure) or was likely to have failed if not for the receipt of exceptional Government assistance from the Secretary of the Treasury during the period beginning in A ugust 2 0 0 7 through April 200 9
( 3 ) to submit a report under subsection (h); ( 4 ) to refer to the Attorney General of the United States and any appropriate State attorney general any person that the C ommission finds may have violated the laws of the United States in relation to such crisis; and
