Hegseth’s broker eyed defense ETF ahead of Iran strikes

According to FT, a Morgan Stanley broker for US Defense Secretary Pete Hegseth explored a multimillion-dollar investment in BlackRock's Defense Industrials Active ETF before the Iran strike, but the deal did not proceed because the fund wasn’t yet available on the platform; while no wrongdoing is alleged, the timing could invite scrutiny given the defense sector’s link to government policy.