Abstract

Code of Conduct for Private military and security companies based upon principles of ethical self-regulation of this branch of industry has been elaborated and adopted recently by above 30 countries. Alternatively, group of above 60 other countries elaborated draft of the new UN Convention on external rigid legally-binding regulation of the private military industries on behalf of the international community. Paper analyses and compares basic principles of both “ethical” and “legalist” models of regulation. Author, who was as the UN expert involved into elaboration of Convention, suggests in the paper new ways to combine mechanisms of social-ethical nature with binding mechanisms of international law aiming to reach a compromise and establish effective international oversight of the international community over such a dangerous branch of international businesses as private military and security companies.