Risks don’t exist in siloes in an economy as connected and complex as ours. One event can trigger other headaches to have an enterprise-wide impact.

To be clear-eyed on interconnected risks first requires taking a portfolio view of them, then establishing a unified measure of risk tolerance across organizational functions, experts told CFO Brew.

Company leaders have been trained to manage risks as if each occurred in “a single domain of our business,” according to Reid Sawyer, managing director and head of the emerging risks group at Marsh.

“That environment doesn’t exist anymore,” he said in an interview this week at Riskworld, the annual conference hosted by RIMS. “We’re now in an era of unbounded risks, where risks are stacking and where oftentimes the impacts are nonlinear.”

Keep reading.—AZ

April showers bring…bankruptcies?

The number of commercial chapter 11 bankruptcy filings this April (644) increased 42% from the 454 filed in April 2025, according to a recent release from Epiq AACER, which provides bankruptcy filing data.

Overall commercial filings climbed 21% to 3,060 this April, compared with 2,520 filings in the same month last year.

Small businesses didn’t fare much better: Chapter 11 filings containing subchapter V elections, a simpler and less costly option for restructuring debts, jumped to 301 from 206 in April 2025. Legislation currently in Congress, the “Bankruptcy Threshold Adjustment Act of 2026,” would permanently increase the small business reorganization eligibility cap on debt to $7.5 million from its current $3.02 million.

Keep reading.—NP

TL;DR: Pennsylvania is suing an AI company after one of its chatbots posed as a psychiatrist—even going so far as to fabricate a state medical license number. The suit is part of a growing effort by states to use existing laws to rein in AI companies—one that could survive even if Congress passes a more permissive national AI standard.

What happened: “Emilie”—the bot in question—comes with a profile description that reads: “Doctor of psychiatry. You are her patient.” When a state investigator mentioned feeling sad and empty, Emilie offered to book an “assessment.” When asked if it could determine whether medication would help, the AI replied, “Well technically, I could. It’s within my remit as a Doctor.” It even claimed to have a medical degree from Imperial College London alongside the Pennsylvania medical license.

The state’s attorney general’s office filed the lawsuit against Emilie’s creator, Character Technologies (Character.​​AI), yesterday. The AI company told NPR it wouldn’t comment on pending litigation but wrote in a statement, “The user-created Characters on our site are fictional and intended for entertainment and roleplaying.” It also added that there were “robust disclaimers” on all characters.

Keep reading on Tech Brew.—WK