This NYTimes article reports that things have improved a bit recently there.
NYTimes: ... Embarrassed after missing the warning signs of the financial crisis and the Ponzi scheme of Bernard L. Madoff, the agency’s enforcement division has adopted several new — if somewhat unconventional — strategies to restore its credibility. The S.E.C. is taking its cue from criminal authorities, studying statistical formulas to trace connections, creating a powerful unit to cull tips and assign cases and even striking a deal with the Federal Bureau of Investigation to have agents embedded with the regulator.
... Mr. Sporkin has built a team of more than 40 former traders, exchange experts, accountants and securities lawyers to sift through roughly 200 pieces of intelligence a day, distilling the hottest tips into a daily “intelligence report.” “It’s the central intelligence office for the whole agency,” Mr. Sporkin said.
The overhaul came with an upgrade in technology. The hub of Mr. Sporkin’s outfit is a “market watch room,” replete with Bloomberg terminals and real-time stock pricing monitors that keep an eye on the markets.
... Rather than examining questionable trades in specific stocks, Mr. Hawke and his team now analyze suspicious traders and their network of connections on Wall Street. The investigators have turned to statistics, using tools like “cluster analysis” and “fuzzy matching,” to identify relationships and trading patterns that sometimes go undetected.