Increasing outsourcing of state security functions to private security actors coupled with the development of regulatory regimes that rely on private oversight, monitoring and enforcement pose a challenge to human rights. This paper examines the extent to which there are gaps in the existing international regulatory framework for Private Military and Security Companies (PMSC) and its implementation specifically relating to human rights violations against marginalised groups. It comprises:

1. An assessment of: (a) the changing nature of the international security market; (b) the increasing privatisation of international security functions and services; and (c) the linked role of business actors hiring PMSCs in the conflict and post-conflict cycle as well as related but non-conflict environments e.g. migration;

2. Identification and assessment of the most vulnerable and marginalised groups whose human rights may be impacted by the use of PSCs with a focus on women, children, LGBTI and migrants in conflict, post-conflict and non-conflict environments; and

3. A determination of the effectiveness of the international regulatory framework and its implementation with regard to ensuring respect for the human rights of vulnerable groups. The paper includes a gap analysis of relevant regulatory instruments to assess the extent to which they address adequately respect for human rights of the identified marginalised groups. Such instruments include: the International Code of Conduct for Private Security Providers (and associated management standards PSC1 and ISO18788); the International Code of Conduct Association; the Montreux Document; the Voluntary Principles on Security and Human Rights; the UN Guiding Principles on Business and Human Rights; and the OECD Guidelines for Multinational Enterprises.

It concludes that the current regulatory regime does not fit current needs, in particular for safeguarding vulnerable and marginalised groups.