Nicky Morgan MP, the chair of the Treasury Committee, is urging the government to act soon to clarify the postion on cross-border pensions and insurance contracts post-Brexit amid fears of chaos.

Advisers face having to stump up fees to help pay for the imminent introduction of new EU rules.

Treasury proposals for changing the definition of financial advice fail to distinguish it from ‘guidance’, a pensions firm MD says.

The Treasury has proposed amending the definition of financial advice to bring it in line with wording used in rules derived from the European Union.