The National Association of Securities Dealers Inc. has withdrawn a proposal that would have saddled nonbank brokerages that sell securities as well as FDIC-insured products with the same disclosure standards as banks.

Bank brokerages are required to discuss with clients the differences in risks between insured and uninsured products.

In a notice to members, the regulatory agency said Monday that an across-the-board rule was unnecessary.

Sarah A. Miller, senior government relations counsel at the American Bankers Association, expressed disappointment, saying that the same disclosure rules should apply "across the distribution channels."

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