[TheSpiceIsLife]

The SEC steps in typically when they're certain of a ruling in their favour and when it is politically expedient to do so.

In order for regulators to proactively prevent all misbehaviour such organisations would need to be impractical huge and financially inconvenient to tax payers.

Rather, society generally tolerates some level of fraud / crime / misbehaviour, probably because the benefits out weigh the costs to liberty.