The objective of this course is to examine the regulatory framework of managed investment schemes and their implications for investors. The focus is on the risks to investors in participating in such schemes and the extent to which regulation can contain such risks. Besides policies and principles of regulation, the course will examine practical issues from a compliance perspective. Topics include the concept of managed investments; objectives, techniques and width of regulation; scheme constitution; responsible entity and its officers, their fiduciary and statutory duties, licensing and compliance plans; custody of scheme assets, their investment, and portfolio regulation; scheme units, their issue, redemption, pricing and marketing; and rights of investors.