The report also notes that the Dodd-Frank Act amended the securities laws to require nationally recognized statistical rating organizations (NRSROs) to "establish, maintain, enforce, and document an effective internal control structure governing the implementation of and adherence to policies, procedures, and methodologies for determining credit ratings. Not everyone was impressed by this latest exercise in finger-wagging. "The SEC's failure to pursue an enforcement action against Moody's based on 'uncertainty regarding a jurisdictional nexus' is not convincing to say the very least and does nothing to restore confidence in the Commission as an effective enforcement agency," said Boston University law professor Cornelius Hurley. Moody's, which has tumbled 10% since the news of the SEC probe came out and since investors started mulling over the effects of the Dodd Frank Act, rose modestly in Tuesday afternoon trading. McGraw-Hill, parent of Standard & Poor's, was off fractionally.