That and obscure investments into shitcoins. I get that the FDA and every other public health agency worldwide has more pressing problems than quacks, but what are the SEC and their European counterparts doing all day? I'd expect them to investigate scams and questionably legal "investment" opportunities.

Raking in the $$$ fining banks for missing technicalities on reporting and whatnot.

Look at the incentives and you can predict the outcome.

It's the same reason the DOT spends their time harassing scrap haulers and dump trucks for being a few pounds overweight rather than trying to track down the people driving on no sleep or systematically skirting the rules. Fining people for petty BS is the financial meat and potatoes of their operation. Good Old Fashioned Police Work (TM) is just a loss leading sideshow to keep public approval high enough to get money. It's like how Red Bull's primary business is selling energy drinks but they also have a bunch of extreme sports ventures for PR purposes.

Pretty much every enforcement agency is like that. You want to see the EPA, OSHA or SEC or whoever levy big company ending fines that scare everyone into compliance then you need to take away the low effort to enforce petty stuff that is the bulk of their revenue stream.