In recent years jurists started to discuss the legal consequences of Private Military and Security Companies’ (PMSCs) employees misconduct and the international law options of regulation. This discussion was highly motivated by the incidents occurred at the Abu Ghraib Prison, Nissor Square and the killings of Blackwater contractors in Fallujah. The existing law have been inapplicable and inadequate to address the international humanitarian law (IHL) and human rights law (HRL) violations committed by private contractors and further debate on the issue is necessary. This article seeks to discuss the existing regulation options and current efforts on regulating private contractors’ activities. Three main issues will be addressed: first, whether or not self-regulation is an alternative; second, national attempts at regulations and; third, the current state of development of regulation on regional and international levels. The conclusion is that only through a multi-layered approach and joint effort (from national, regional and international levels), regulation addressing the industry and implementation will be able to succeed.