About the Global security policy
The Global security policy acts as the default security policy for the system. The term "global" does not indicate that every user has full access to everything, but rather that this security policy is associated globally with every user by default. You can create more security policies that extend the Global security policy, but the Global security policy is always in effect, regardless of any other security policies you create.
The Global security policy:
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Contains permission settings for the default roles, Plan Administrator and Plan User. The permission settings for these roles are used as the fallback or default for any user who does not currently qualify for a role in another security policy, object role, or project role.