What is the Annual Compliance Questionnaire (ACQ)?
Understanding Quest CE's ACQ service: A tool for collecting, reviewing, and maintaining individual registration data
The Annual Compliance Questionnaire (ACQ) is a service available within firm programs on the Quest CE platform. It allows broker-dealers and registered investment advisory (RIA) firms to collect, validate, and maintain important registration data from their registered representatives, brokers, and investment adviser representatives (IARs) on an annual basis.
Why do firms use the ACQ?
Firms use the ACQ to stay compliant with industry regulations and reduce regulatory risk. Rather than managing this process manually, the ACQ gives individuals an efficient, structured way to review and update their registration information each year - such as the data found on their Form U4 (for broker-dealer firms) or Form ADV Part 2B (for RIA firms).
What does the ACQ include?
Quest CE's ACQ is built to streamline the annual review process for both firms and their enrolled users. Key features include:
- Jump logic — Automatically skips sections or questions that don't apply to a given user, reducing time spent on irrelevant content
- Flagged responses — Triggers alerts to compliance when a user's answer requires follow-up or review
- Comments, file uploads, and review notes — Allows compliance staff to document actions taken on each user's ACQ submission for a complete audit trail
- Advanced reporting — Filter and analyze results by response, completion status, modification history, and more to give compliance teams full visibility into the annual review process
- Customizable questions — The questionnaire can be tailored to each firm's specific needs, capturing details unique to their business and enrolled population
Who completes the ACQ?
The ACQ is assigned to and completed by individual users enrolled in a firm's program - typically registered representatives, brokers, or IARs - on an annual basis as directed by their firm's compliance team.