The SEC has no criminal prosecution powers; all they can do in that regard is write a note asking the DOJ to pretty-please look into something. The only way to get a federal (civilian) criminal conviction is to have the DOJ go after you.
Insider trading charges are to high-flying executive-types as "Based on my training and experience, I detected the distinct odor of cannabis on the suspect's person" is to folks who are committing the crime of walking while black near an officer with something to prove.
Seriously, these regs are very, very vague and open-ended, and a ton of deference is given to the SEC.
The US cannot even stop NSO to hack the system with spyware and Israel is a political ally.