State securities regulators have sent out a nationwide survey seeking input on the curriculum that will be included in the proposed rule on investment advisor representative continuing education requirements they are finalizing for a vote later this year.

The survey from the North American Securities Administrators Association asks industry representatives to rank a host of topics that have been identified for inclusion in the new education requirements including conflicts of interest, fiduciary duties, fraudulent practices, suitability and performance reporting requirements.

“NASAA’s Investment Adviser Continuing Education Committee is progressing in its work to create a continuing education program for investment adviser representatives and hopes to present the proposed model rule to the NASAA membership for a vote later this fall,” NASAA spokesman Bob Webster said.

Under the proposed rule, investment advisor reps would be required to complete 12 hours of continuing education annually. Half of the hours would focus on products and practice and the other half on ethics and professional responsibility. Investment advisor reps are advisors who often are dually registered with both an investment advisor and broker-dealer.

The results from the new survey are designed to help regulators “create a continuing education program for investment adviser representatives,” NASAA said in a press release. The continuing education requirements were proposed earlier this year and the comment period closed April 30.

The overall goal of the program is to ensure that investment advisor reps “receive continuing education on the securities business relevant to their duties and obligations,” NASAA said. “Industry input to this survey is critical for NASAA’s decision-making on the design and potential implementation of a continuing education program for investment adviser representatives.”

The survey is anonymous and will remain open until September 21, 2020.

There are approximately 360,000 IARs registered with states, according to the NASAA proposal. Approximately 60,000 of them are registered only as IARs, while another 300,000 are also registered representatives with brokerage firm members of the Financial Industry Regulatory Authority Inc.

Although Finra imposes CE requirements on registered reps, IARs do not have to take educational courses or learn new material each year.