Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, sent a letter to Securities and Exchange Commission Chairman Paul Atkins requesting an SEC investigation into reported trading activity by a broker for Secretary of Defense Pete Hegseth ahead of the U.S.-Israel attacks on Iran. The letter cites reports that the broker attempted to purchase millions of shares in a defense industry fund prior to the attacks and raises concerns that highly sensitive, material non-public information about U.S. military activities may have been used for personal gain. Warren asked the SEC to investigate any attempt by Hegseth or any other individual to trade on misappropriated insider information, noting federal prohibitions on trading based on material non-public information in breach of a duty of trust or confidence and highlighting potential implications for market integrity and national security. Warren requested written responses by May 15, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-20
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member asks SEC to investigate alleged insider trading tied to Defense Secretary Hegseth
Senator Elizabeth Warren, Ranking Member of the Senate Banking Committee, has asked SEC Chairman Paul Atkins to investigate reported trading by a broker for Defense Secretary Pete Hegseth ahead of U.S.-Israel attacks on Iran. The letter cites attempted purchases of millions of shares in a defense industry fund and warns of potential misuse of highly sensitive, material non-public information, with implications for insider trading enforcement, market integrity and national security.