The National Association of Securities Dealers has proposed a restriction on sharing of customer information that would affect all member brokers, not just those at bank-owned brokerages.

The NASD originally proposed a similar regulation that would have affected only bank broker-dealers. The new proposal would allow all NASD members and related affiliates to share information, as long as the customer does not volunteer an objection. Under the old proposal, brokers would have had to ask for approval to share information.

In neither case would a company be able to share information with a third-party, or unrelated company.

The rule, designed to protect consumers as walls between brokerages, banks, insurance companies and other financial service industries fall, is open for comment until April 30.

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