The International Peace Institute has published a study on the regulation of private security firms and private militias.
Beyond Market Forces Regulating the Global Security Industry
James Cockayne with Emily Speers Mears, Iveta Cherneva, Alison Gurin, Sheila Oviedo, and Dylan Yaeger
Private military and security companies play an increasingly visible role in conflict and post-conflict situations. Properly regulated, they may offer efficient and responsive means for governments to deliver security in insecure environments. But well-publicized abuses suggest that an adequate regulatory framework is urgently needed.
Beyond Market Forces surveys the existing state of national, international, and corporate-level regulation of this industry, including more than forty Codes of Conduct. It provides thirty case studies looking at frameworks for implementing and enforcing industry standards in other global industries such as the extractive, textile and apparel, toy, toxic waste, financial, sporting, chemical, and even veterinary industries. And it draws lessons from these industries specifically for the global security industry, identifying five different types of implementation and enforcement framework that the industry could consider: a watchdog, an accreditation scheme, an arbitral tribunal, a harmonization scheme, and a ‘club’