There aren't enough things an executive can go to jail for.

Fines don't do anything to deter bad behavior. Either:

* The company pays

* They pay and the company mysteriously increases next year's comp / grants a "loan" / etc

* D&O insurer pays

In all three cases the money comes out of the shareholders' hides. It provides zero personal deterrence. The payoff matrix, as seen by a sociopath, makes it rational to always defect against the common good.

The only punishment that can really focus attention is physical imprisonment in a facility they can't choose.

SOX did this for financial reporting and gee shucks it turned out executives can follow the law after all!