The fi nancial crisis has highlighted many areas of corporate governance failures
system in banks. Currently, politicians, regulators, supervisors and environmental
bodies are trying to create the foundations for a new order in banking.
The article presents the key areas of identifi ed irregularities and new regulations
introduced to tighten the system. The main focus is however is on the issue of
ethical culture, which should become the cornerstone of the reforms and to shape
the new rules of corporate governance in banks.