QUESTION OF ETHICSQ I have not opted into authorisation by the Financial Services Authority.

I had a category 1 certificate under the old financial services regime and my stationery included a statement that the firm was regulated by the Law Society in this regard.

What revised statement, if any, do I put on my stationery?A The Financial Services and Markets Act 2000 came into force on 1 December 2001 making the Financial Services Authority the single regulator of financial services business in the UK.

Solicitors' firms which decided not to opt-in to authorisation by the Financial Services Authority will need to remove the reference which is on their stationery.

This statement can be removed completely.

Alternatively, since this guidance was formulated, the Master of the Rolls has concurred in the Solicitors' Publicity Code 2001 which came into force on 16 November 2001.

This new code introduces a require-ment for the statement 'regulated by the Law Society' to appear on the letterhead/ fax headings of private practices in England and Wales.

Practitioners have the option of complying with this new requirement immediately, or having no statement at all (under the transitional provisions) until 31 December 2002.

All other aspects of the new code are now in effect.

Therefore, if your current statement includes the words 'regulated by the Law Society' only the reference to 'in the conduct of investment business' need be deleted.

However, firms should not have a statement saying 'authorised by the Law Society'.l Question of ethics is compiled by the Law Society's professional ethics guidance team.

Send questions for publication to Austin O'Malley, the Law Society, Ipsley Court, Berrington Close, Redditch B98 0TD; DX 19114 Redditch; tel: 020 7242 1222.