Adviser firm Pave faces ban for UCIS mis-selling

In decision notices published on its website this week, dated 3 November, the FSA said the company's sales model and practices exposed customers to "a very significant risk of financial loss despite no evidence that they could sustain such losses". Some customers were advised to remortgage their homes to raise funds to invest in UCIS with no documented assessment of their capacity to sustain losses, while others were advised to switch from existing pension schemes and to establish SIPPs where the underlying investments included high concentrations of UCIS. The case has been referred t...