AI governance is becoming a core compliance function for investment advisers, with new survey data showing AI now far outpaces all other compliance concerns. The 2026 Investment Management Compliance Testing Report reveals that firms are increasing compliance testing around AI, cybersecurity and privacy more than any other areas, while also advancing AI governance through policies, approved-tool inventories and employee training. The report also sheds light on how advisers are addressing cybersecurity resilience, amended Regulation S‑P requirements and third-party risk. This article discusses the key findings in the report, with additional commentary from Aaron Pinnick, senior manager of thought leadership at ACA Group, a co-sponsor of the report’s study. See “ACA Study Finds Widespread, but Limited, Implementation of AI” (Jun. 24, 2026).