A federal court ruling against Workday in the Mobley v. Workday case, a Fair Credit Reporting Act class action against Eightfold AI, and new Fortune 100 board-oversight data all point the same way: ethical AI conduct is now a liability and governance issue, not a values statement. This post sets out what risk and governance teams should be asking right now.
APRA's April 2026 letter named four AI governance failures inside Australia's largest banks and insurers; ASIC has tied AI-driven cyber risk to its FIIG Securities enforcement precedent.
APRA and ASIC have both put board AI literacy gaps in writing this year, APRA's 30 April letter to industry and ASIC's 8 May open letter to AFS licensees. Here is what they found, and the questions every board should be able to answer now.