I feel as though any sort of ethics board intended to do some kind of self-policing within an industry is doomed to fail. Have we seen any evidence in the past

I feel as though any sort of ethics board intended to do some kind of self-policing within an industry is doomed to fail. Have we seen any evidence in the past decade that the concerns of a company's investors won't eventually supersede all other considerations? It would be nice if the government had teeth nowadays and if the opinions of academics were taken at all seriously. Then there would be a US Federal AI Ethics Board. And we might have a US Federal Climate Action Board too. Alas, we're content to leave the ethical considerations to those who have every incentive to ignore them.