Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Scope definition

What does Scope mean? Scope (often called the scope of works) describes, in construction and engineering practice, the package of work the contractor must perform and any constraints or methods required. It is not defined by legislation and has no universal legal meaning; its content is contractual and is interpreted using ordinary principles of contract construction across England & Wales, Scotland, Northern Ireland and Ireland. In the NEC4 suite, Scope (capitalised) is a defined term that specifies and describes the work the Contractor is to undertake and any constraints on how it Provides the Works, for example required standards, design responsibility, performance criteria,...

UK financial advice regulation since RDR: FAMR implementation, RAO/PERG changes, advice–guidance boundary (AGBR) proposals, and FCA ongoing advice services review (2024–2025)

Published by a LexisNexis Financial Services expert

Practice notes

Scope of this Practice Note

The Financial Advice Market Review (FAMR) commenced in August 2015, co-led by HM Treasury (HMT) and the FCA. It examined how government, industry and regulators could pursue separate and collaborative actions in order to foster a marketplace delivering cost-effective and accessible financial advice and guidance for all consumers.

This Practice Note centres on those measures recommended by FAMR that influenced UK regulation of financial advice, including the breadth of the advice gap and the reasons it exists for individuals without substantial assets, the rules-based hurdles facing advisory firms, and the issues posed by novel and evolving technologies. Consequently, it does not set out every recommendation contained in the FAMR final report. FAMR was subsequent to the Retail Distribution Review (RDR), which brought in revised rules effective from 31 December 2012, designed to raise professional standards in the intermediary segment of the retail investment market, eliminate the scope for commission-driven bias, and improve customers’ comprehension of the services provided to them.

For more information about the RDR:

The RDR is a regulatory initiative that was set up in June 2006...

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Web page updated on 22/05/2026

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