CF 9 Upgrade Issue

We recently upgraded from MX 7 to ColdFusion 9 on glassfish 2.1.1. I'm getting the following error:

Error Executing Database Query.ORA-00933: SQL command not properly ended

when executing the following query:

<cfquery name="InsertSubElem3" datasource="#Session.Datasource#">

                INSERT INTO AFS_MASTER_UTILITIES

                (PROGRAM_CD, CMPCODE, ELMCODE, ELMLEVEL, UPDATE_DATE, SWITCH, VALUE)

                (SELECT 'AFS_SUBANALYSIS_SUSP', CMPCODE, CODE, ELMLEVEL, SYSDATE, SUBANAL, 'SUBANALYSIS REMOVE'

                FROM OAS_ELEMENT

                WHERE ELMLEVEL = 3 AND

                DELDATE IS NULL AND

                                ((SUBANAL  = 76) or

                                (SUBANAL = 46 and CODE in (SELECT CODE FROM OAS_COMPANY))))

</cfquery>

This is working fine in the MX 7. If I run the query directly from the database it is working fine. After my troubleshooting what I observed that if I remove the select and insert the hard coded values, it is working. Basically it is not liking the select in the insert statement.

We are using ojdbs6.jar, We tried with ojdbc14.jar also but without any success. database is in Oracle 10g.

Any help is appreciated.

Thanks,

Raj