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Some worry that the precedent set by Europe might cause others to adopt the rules piecemeal.
After a comment period the S.E.C. will decide whether to adopt the rules.
Pending hearings throughout the state, the 14-member council is expected to adopt the rules in January.
The recommendations are efforts to forge a compromise between the sides in the hopes of getting states and cities to adopt the rules.
Mr. Kennard, who conducted today's commission meeting, said it was particularly appropriate to adopt the rules on the same week as Martin Luther King Jr. Day.
Companies that fail to adopt the rules would be barred from being listed on the New York Stock Exchange or Nasdaq.
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It can alsochoose not to adopt the rule change, Finchem said.
A few weeks after the rule was adopted, the Financial Planning Association filed a second lawsuit challenging the commission's authority to adopt the rule.
It appears to us therefore that the reported decisions leave it open to us to adopt the rule we have stated.
The PGA Tour can decide to adopt the rule change as soon as possible instead of waiting until 2016, the timetable for the proposed ban.
Mr. Kreidler, a Democrat, says he expects the state to adopt the rule in September and insurers to include contraceptive coverage by January 2002.
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