Investment earnings restrictions placed on certain classes of proceeds, typically following the Temporary Period. The County considers references and performance evaluations in the evaluation of Vendor's past performance.Really, any situation where multiple regulators have an interest in a transaction or operation, regulatory arbitrage may be attempted. Independent Auditor's Report on Internal Control over Financial. Reporting and on Compliance and Other Matters Based on an. Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from a difference in its price.