On 13 and 14 of December 2012 in Budva, Montenegro was held regional conference on self regulation. Conference was organized by Council of Europe in cooperation with Montenegrin Media Council for self regulation. Aim of the conference was discussion about problems media in the region facing with regarding professional and ethical standards. Also one of the main topics was functioning of self regulatory bodies where these bodies exist or problems how to establish self regulatory mechanisms in countries where these bodies don’t exist. On the conference took part participants from Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Kosovo, Macedonia, Bulgaria, Romania, Albania and Montenegro as well as international media experts. Each country were represented by three participants.