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Broker's Defense Investment Inquiry Sparks Controversy Amid Iran Tensions

3/31/2026

Summary

Story summary

A broker for U.S. Defense Secretary Pete Hegseth sought to invest in major defense companies before the U.S.-Israeli attack on Iran, according to the Financial Times.
Chief Pentagon spokesman Sean Parnell labeled the report as "entirely false and fabricated" and requested a retraction.
The Morgan Stanley broker contacted BlackRock in February regarding a multimillion-dollar investment in a defense ETF, which did not proceed due to unavailability for Morgan Stanley clients.
The report raises concerns about potential leaks related to trades and significant policy decisions by President Donald Trump.

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Story summary

A broker for U.S. Defense Secretary Pete Hegseth sought to invest in major defense companies before the U.S.-Israeli attack on Iran, according to the Financial Times.
Chief Pentagon spokesman Sean Parnell labeled the report as "entirely false and fabricated" and requested a retraction.
The Morgan Stanley broker contacted BlackRock in February regarding a multimillion-dollar investment in a defense ETF, which did not proceed due to unavailability for Morgan Stanley clients.
The report raises concerns about potential leaks related to trades and significant policy decisions by President Donald Trump.