Federal investigators are now looking into whether Mr. Chinn or anyone else improperly shared in a $1.1 million consulting fee paid to Dr. London by Wedtech.

Investigators are looking into suggestions that he was actually hired to manipulate the company's stock and improperly shared in a $1 million consulting fee.

But Mr. Rockefeller questioned whether Mr. Bolton might have improperly shared the names.

The increasingly symbiotic relationship between law enforcement officials and the N.A.S.D. gives rise to the possibility that information gathered by the association in its role as regulator will be shared improperly with law enforcement officials.

Bonneville promised to pay whatever amounts are found to have been improperly shared.

The Securities and Exchange Commission is investigating about half a dozen Wall Street firms to see whether information is being shared improperly, people who have been briefed on the investigation said yesterday.

The Pentagon concluded that sensitive guidance technology was improperly shared with the Chinese during a review of a failed 1996 rocket launch by two American companies, Loral Corporation and Hughes Electronics.

Another S.E.C. Trader Inquiry The Securities and Exchange Commission is investigating about half a dozen Wall Street firms to determine if information is being shared improperly.

But a court case shows that the activities are intertwined, giving credence to fears that information gathered by the N.A.S.D. could be improperly shared with the authorities.

But a federal court case in Manhattan shows that the activities are in fact intertwined, giving credence to fears that information gathered by the association could be improperly shared with law enforcement officials.