![]() The Church’s senior leadership never prepared or filed the specific reports at issue. Ensign Peak handled the mechanics of the filing process. Q: Did the Church know about the practices at Ensign Peak described in the order?Ī: The Church’s senior leadership received and relied upon legal counsel when it approved of the use of the external companies to make the filings. It has broad jurisdiction.Ī: Investment managers who oversee a portfolio of public equities above a certain threshold are required to file Forms 13F with the SEC quarterly. These forms publicly disclose the names of the securities and their values. We affirm our commitment to comply with the law, regret mistakes made, and now consider this matter closed.Ī: It is the affiliated investment manager for the Church.Ī: The Securities and Exchange Commission regulates the United States securities markets. ![]() Ensign Peak and the Church have cooperated with the government over a period of time as we sought resolution. This settlement relates to how the forms were filed previously. Since that time, 13 quarterly reports have been filed in full accordance with SEC requirements. Ensign Peak adjusted its approach and began filing a single aggregated report. In June 2019, the SEC first expressed concern about Ensign Peak’s reporting approach. Ensign Peak and the Church believe that all securities required to be reported were included in the filings by the separate companies. As a result, Ensign Peak established separate companies (LLCs) that each filed Forms 13F instead of a single aggregated filing. Since 2000, Ensign Peak received and relied upon legal counsel regarding how to comply with its reporting obligations while attempting to maintain the privacy of the portfolio. These forms publicly disclose the names of the securities and their values. Investment managers who oversee a portfolio of public equities above a certain threshold are required to file Forms 13F with the SEC quarterly. The Church of Jesus Christ of Latter-day Saints and its affiliated investment manager, Ensign Peak Advisors, Inc., have settled a matter with the Securities and Exchange Commission (SEC). ![]() The Church released the following statement on Tuesday, February 21, 2023. ![]()
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