Associated Press
Why AP Media Bias Deserves High Level of Scrutiny
The Associated Press has historically been considered the "gold standard" of objective journalism. It operates a wire service, meaning local and national news organizations around the country use AP's content to fill gaps in their coverage. That means AP news content has extremely wide impact and reach.
As such, AllSides does particularly extensive analysis of AP. When AP displays political bias, or fails to portray political events, legislation, and perspectives in a balanced and even-handed way, the impact is broad and far-reaching. A media outlet that is relied upon by outlets all over the country deserves a high level of scrutiny when it comes to political bias.
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The Church of Jesus Christ of Latter-day Saints and its investment arm have been fined $5 million for using shell companies to obscure the size of the portfolio under church control, the U.S. Securities and Exchange Commission announced Tuesday.
The faith, widely known as the Mormon church, maintains billions of dollars of investments in stocks, bonds, real estate and agriculture. Much of its portfolio is controlled by Ensign Peak Advisers, a nonprofit investment manager overseen by ecclesiastical leaders known as its presiding bishopric.
The church has agreed to pay $1 million and Ensign Peak will pay $4 million in penalties based on the violation.
Ensign Peak avoided disclosing investments “with the church’s knowledge,” denying the SEC and the public of accurate information required under law, Gurbir Grewal, the agency’s enforcement director, said in a statement.