Many believe that the genesis of the crisis can be traced to the repeal in the United States in 1999 of the Glass-Steagall Act which mandated the separation of commercial and investment banking to protect depositors from the hazards of risky investment and speculation.
This decisive importance of corporate governance for banking activity has become, especially since the crisis, the focus of intense regulatory scrutiny. 4. The evolution of regulation has revealed an ever more granular trend, on a path that is not free from difficulties.