AFM welcomes 'limited' Holloway RDR exemption

Responding to the decision announced in the regulator's quarterly consultation, Martin Shaw, chief executive of AFM, explained that it was a good start but the full impact of the exemption needed to be studied. "The FSA's proposal to exempt some Holloway products from the RDR is a welcome albeit rather limited concession," he said. "It would mean that post-RDR an independent adviser would be able to compare Holloways on equal terms with other forms of income protection. For these products at least the FSA recognises that adviser charging would be a barrier to fair competition. "We ...