SRA Update

Welcome to the latest SRA Update. Last week, the Supreme Court ruling on motor finance commission payments hit the headlines. It impacts millions of consumers and the Financial Conduct Authority (FCA) has announced it will consult on a compensation scheme. If you are a firm working in this area, you need to understand what this ruling means and make sure you are meeting your professional obligations. You can read below about the information we and the FCA have published setting out our expectations. We are also moving towards the opening of practising renewals in October. We provide an update on some changes we are introducing to how we will verify mySRA account users. Finally, you will also find the usual mix of updates, resources and on-demand content. There is practical content on using AI and technology, the SQE, and insights from the Legal Ombudsman on complaints issues.