id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cblr-1735	Guo, Carrie	Credit Rating Agency Reform: A Review of Dodd-Frank Section 933(b)’s Effect (or Lack Thereof) Since Enactment	2016	33	.pdf	application/pdf	11116	505	51	In particular, given the importance of private enforcement in the overall regulatory framework, the language of Section 933(b) is especially promising, as it relaxes the scienter requirement for complaints filed as part of private class action suits against rating agency defendants. C. Inquiry into Changes in CRA Best Practices Since Dodd-Frank’s Enactment Section 933(b) redefined the scienter requirement in private suits against rating agency defendants as knowing or reckless failure to carry out reasonable investigation or reasonable verification of the factual elements used to arrive at their ratings.118 The major CRAs have since adapted to this standard by preemptively adopting codes of conduct stipulating to reasonable investigation of factual elements, as well as reasonable verification when available.119 CRAs granted the CRA defendants’ joint motion to dismiss, and the plaintiff’s appeal was dismissed on November 9, 2015.	cache/cblr-1735.pdf	txt/cblr-1735.txt