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Over the past year, the Financial Services Commission of Ontario (FSCO) has taken considerable action in the syndicated mortgage investment (SMI) marketplace to help consumers. While there are many legitimate SMI opportunities, FSCO warns consumers to be wary of SMIs with advertisements promoting a high return or ‘fully secured’ investment.
FSCO considers SMIs to be high risk, and notes they may not be suitable for the average investor. Before you hand over your hard-earned money, make sure you are aware of your rights and responsibilities.
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