Much of the losses in 2008 were caused by illegal and non-rule-following activity.

Importantly we also implemented several new schemes to ensure that we were better able to evaluate illegal and non-rule-following activities after 2008 as well.

Right, this is the sort of regulation that people are now complaining about in the securities market because a long time has passed since it was originally enacted.

Since there was so much illegal activity, who went to jail?

Here's the list: https://ig.ft.com/jailed-bankers/

Here's a good analysis of why more people didn't go to jail: https://www.theatlantic.com/magazine/archive/2015/09/how-wal...

Lack of successful prosecution doesn't mean that illegal activity didn't occur. Are you ticketed every time you drive over the speed limit? I'm not.