The NASD is wants to let U.S. brokerage firms provide their clients with investment analysis tools.

Currently brokerage firms are prohibited from providing customers direct access to such tools, although other financial advisors and institutions in the U.S. have offered public access to similar automated tools for some time.

With appropriate disclosures and other safeguards, NASD, which regulates the U.S. securities industry and The Nasdaq Stock Market, believes that these tools could assist customers in making judgments about how an investment strategy might perform. The NASD’s board has approved publishing for comment a proposal that would allow firms to offer the tools.

Such tools typically process a range of information supplied by investors, such as their age, financial situation and investment objectives, and statistically develop outcomes, such as meeting a financial goal, based on that information.

NASD is soliciting comment on, among other matters, whether and to what extent members should be permitted to provide these tools directly to their customers. The proposal makes it clear that to the extent that these tools make investment recommendations, NASD’s suitability rule would apply.