Feds Are Investigating Mormon Church’s Investment Firm
The Securities and Exchange Commission reportedly wants to know if the church’s secretive practices broke any rules.
Lucy Nicholson/Reuters
The Securities and Exchange Commission is reportedly investigating whether the Mormon Church broke any rules with its secretive investment arm. The Wall Street Journal reports that the church is likely to pay a fine in a settlement over whether it complied with disclosure requirements for Ensign Peak, the investment firm it owns that is said to control $100 billion in holdings. The church, which asks members to tithe 10 percent of their income, declined to confirm the probe.
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