Collective Investment Schemes exist in several markets, both emerging and developed. In Uganda, the Capital Markets Authority (CMA) began licensing Collective Investment Schemes after Parliament passed the CIS Act in 2003. This piece of work aims at evaluating the effectiveness of the regulatory framework for Collective Investment Schemes in protecting investors in Uganda. The first chapter presents the risks that the investors participating in CIS may encounter. Chapter two contains the theoretical framework and literature review through an examination of relevant archival resources. The key findings contained in chapters three and four reveal that the laws and regulations governing CIS afford a reasonable degree of protection to investors but there still exist some legal and extra-legal challenges that hinder adequate protection. The Conclusion and Recommendations to address the legal and extra-legal factors inhibiting the efficiency of the law governing CIS are given in chapter five. Policy Makers, Regulators,Practitioners, Investors and Scholars in the Capital Markets will find this book a very useful resource.