The Mormon Church and its investment arm will pay $5 million to settle SEC charges that it went to 'great lengths' to avoid disclosures related to its massive portfolio

• The Mormon Church and its investment adviser will pay millions to settle charges with the SEC. 
• The regulator says the Church's investment manager "went to great lengths" to avoid disclosures.
• The Church of Jesus Christ of Latter-day Saints' has a $100 billion portfolio, according to a 13F filing.

The Mormon Church and its investment manager will pay a total of $5 million to settle charges with the US Securities and Exchange Commission over failing to properly disclose holdings in the church's massive investment portfolio. 

Ensign Peak Advisers, the non-profit that oversees the Church's portfolio, failed to comply with the regulator's disclosure rules by filing forms for shell companies that "obscured" the Church's investments, according to the SEC on Tuesday.