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Beyond Market Forces: Regulating the Global Security Industry

Beyond Market Forces: Regulating the Global Security Industry is a book that thoroughly examines the existing regulation of the private military and security industry, and proposes ways towards an international regulatory framework.

The research project was urged by some of the governments and industry actors engaged in the Montreux Process.  The aim of the study is to encourage reflection and discussion with all relevant stakeholders (states, industry and civil society) on the effective regulation of the global security industry and on possible approaches to the implementation and enforcement of adequate standards.

The research surveys existing human-rights-related regulatory mechanisms from different industries to assess their relevance for the global security industry.  It identifies five different regulatory frameworks to consider: a watchdog; an accreditation scheme; an arbitral tribunal; a harmonization scheme; and an industry club.  It is suggested that a combination of different approaches might be needed to find an adequate regulatory framework for the security industry.

The study argues that collaboration among the main stakeholders is paramount in order to bring about a necessary change in the industry, especially in view of the mounting criticism related to the alleged abuses and transgressions of international humanitarian law by private military and security companies operating in conflict zones.  For this purpose, three practical steps are proposed: consultation within stakeholder groups on framework options; agreement on the negotiation process; and negotiation.

Full book available to download below.

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