Corporate governance of financial institutions takes important roles in financial regulation together with the purpose of protecting financial consumers, and maintaining the stability of financial system. The uniqueness of the corporate governance system of financial institution stems from the institution`s systemic influences, not from the sectoral differences in financial industry. Also, current corporate governance systems of financial institutions have been set on similar systems and procedures. Characteristics which are found in each financial sector cannot vindicate the regulatory discrimination on the governance system of financial institutions. While the sectoral differences in financial industry can not justify the regulatory discrimination, it is one of the factors which should be considered in measuring individual institution`s systemic influence. Such factors as the size, interrelatedness and market share of the company also should be considered in defining the concept of ``controlling shareholder`` or ``fit and proper test``.