The issue of protection of minority shareholders has been in the focus of different approaches to corporate governance in recent years, with particular attention to the protection from self-dealing in related party transactions. The research has shown that economies with the greatest investor protection are characterized by precise definitions of related party transactions, comprehensive disclosure requirements, shareholder participation in making key decisions, clear standards on insiders' liability and well-functioning judiciary. Bearing this in mind as well as the important issues of regulation according to Djankov et al (2008), in our paper we consider the most important issues concerning the regulation of such transactions in general and analyze the existing legislation in Bosnia and Herzegovina (B&H), especially in terms of approval and disclosure requirements.