The Convention on the Conservation of Antarctic Marine Living Resources (CCAMLR Convention) forms the core of the regulatory regime for Southern Ocean fisheries. This article analyses the scope and extent of the Convention and the competence of the bodies established under it while also addressing the role of states and other international intergovernmental organisations with relevant competence. As part of the Antarctic Treaty System (ATS), the CCAMLR Convention is characterised by a unique sovereignty situation. The analysis thereof is complemented by a comparison with (other) regional fisheries management organisations (RFMOs) and illustrated by the difficulties in addressing illegal, unreported and unregulated (IUU) fishing. The article concludes inter alia that the CCAMLR Convention is unlike other RFMOs due to the special natural characteristics, its integration into the ATS and the ensuing sovereignty situation, and its conservationist objective. This notwithstanding, it seems justifiable to treat the CCAMLR Convention as "something more" than an RFMO for the purpose of international instruments on fisheries.