This questionnaire template may be used in an initial public offering (IPO) to determine whether the managing underwriters can make certain required representations under the Financial Industry Regulatory Authority, Inc. (FINRA) rules. This template includes practical guidance and drafting notes. In an underwritten IPO, the managing underwriters must make certain representations under FINRA Rule 5110 that no officer, director, or holder of 10% or more of the shares of the company is associated or affiliated with any FINRA member and that no FINRA member participating in the offering has a conflict of interest under FINRA Rule 5121. A questionnaire requesting relevant information is typically prepared by underwriters' counsel and distributed to representatives of the underwriters and the company's officers, directors, and shareholders holding 10% or more of the shares. Note: Effective September 16, 2020, FINRA amended Rule 5110, making significant changes to FINRA's processes and ...