Mormon Church to pay fine to settle charges it hid an approximately $32 billion investment fund
The Church of Jesus Christ of Latter-day Saints and its investment manager will pay a $5 million fine to settle regulatory charges that it hid a huge investment fund.
Tuesday's Securities and Exchange Commission found that Ensign Peak Advisers was not able to disclose the value of certain church investments. The church stated that they had reaffirmed their commitment to the law and regretted any mistakes made.