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APRA and ASIC's coordinated approach to frontier AI: implications for financial services entities Read More
APRA and ASIC have issued coordinated guidance on frontier AI risks, requiring financial services boards to demonstrate direct oversight of AI governance, cyber resilience and third-party dependencies. The regulators' expectations build on existing prudential standards and directors' duties, with enforcement signals indicating that proportionate action must be taken before incidents occur.
Corrs Chambers Westgarth