rules and regulations governing its transactions and internal affairs, including, without limitation, policies regarding records retention that are not in conflict with applicable Federal record retention laws. 19. The Commission shall keep commercially reasonable records of its financial transactions in accordance with accounting principles generally accepted in the United States of America. 20. The Commission shall establish an office for the conduct of its affairs at a location to be determined by the Commission. 21. The Commission shall adopt subsections (a) through (d) and subsection (g) of section 552 of title 5, United States Code (commonly known as the Freedom of Information Act ) and section 552b of title 5, United States Code (commonly known as the Government in Sunshine Act ), as both may be amended from time to time, as its freedom of information policy and open meeting policy, respectively, and shall not be subject to the comparable laws or policies of any Signatory. 22. Reports of investigations or inquiries adopted by the Board shall be made publicly available. 23. The Commission shall adopt a policy on conflict of interest that shall be consistent with the regulations issued under section 5329 of title 49, United States Code, as they may be revised from time to time, which, among other things, places appropriate separation between Members, officers, employees, contractors, and agents of the Commission and WMATA. 24. The Commission shall adopt and utilize its own administrative procedure and procurement policies in conformance with applicable Federal regulations and shall not be subject to the administrative procedure or procurement laws of any Signatory. F. Officers and Employees 25. The Board shall elect a Chairman, Vice Chairman, Secretary, and Treasurer from among its Members, each for a 2-year term and shall prescribe their powers and duties. 26. The Board shall appoint and fix the compensation and benefits of a chief executive officer who shall be the chief administrative officer of the