‘Biblically responsible’ investment adviser ordered to pay $300K over misleading investors

A “biblically responsible” investment adviser agreed to pay $300,000 and hire an independent compliance consultant to settle charges with the Securities and Exchange Commission (SEC) that it misled investors, along with other compliance failures.

Idaho-based Inspire Investing used a data-driven methodology to evaluate companies and purported to exclude investments in businesses that “do not align with biblical values,” the SEC said in a press release Wednesday.

Any companies involved in abortion, alcohol, cannabis, tobacco, stem cell research, gambling, human rights exploitation, in vitro fertilization, LGBTQ legislation, pornography, or state-owned enterprises were purportedly excluded from Inspire’s investment strategy, the SEC said.