The managed investment scheme regulatory regime is embedded within the Corporations Act 2001 (the Act).

It is comprised of a set of compliance rules for unincorporated arrangements (schemes) involving collective investment resulting from a person (promoter) raising funds from investors which are then applied and managed by the operator of the scheme on behalf of the members as a group.

The purpose of the rules is to ensure minimum standards of investor protection in relation to the establishment and operation of such schemes.