The bill's anti-fraud provisions were necessary to gain key Republican support late last year for such a forceful federal intrusion into the states' traditional prerogative of running elections.

Mr. McLucas added, "The anti-fraud provisions still apply, and insider trading analysis may well apply."

The commission is seeking to prohibit Mr. Sahgal and his firm from future violations of the anti-fraud provision of Federal securities laws.

The ministry had said that because the stocks were not listed, it could not prosecute the securities houses under a potent anti-fraud provision.

"I would remind people that there is currently an anti-fraud provision in our rules that may require such updating."

Some feared voting fraud; in that case, the proper remedy would have been to incorporate the House's anti-fraud provisions.

Democrats had second thoughts about signing on to anti-fraud provisions, while Republicans had qualms about expanding the federal government's role in running elections.

We disagree, although the Justice Department will have to be vigilant to ensure that this anti-fraud provision is not abused.

Instead, it only regulates brokers if they violate the anti-fraud provisions of Federal securities laws.

As before, I still consider it extremely important to bring anti-fraud provisions into the domain of haulage operators.