§ Mr. Carmichael
To ask the Chancellor of the Exchequer how many firms of(a) solicitors and (b) chartered accountants in (i) Scotland and (ii) England and Wales were registered with the Financial Services Authority for the conduct of investment business under the Financial Services and Markets Act 2000 in (A) 2001 and (B) April 2002. 
§ Ruth Kelly
The transition to the new regime for professional firms established under the Financial Services and Markets Act 2000 (FSMA) for regulation of professional firms lasted until mid-December 2001. During the transition from the regime established under the Financial Services Act 1986 (FS Act) firms could opt for direct regulation by the FSA if they conducted "mainstream" investment business or opt for oversight by their professional body if their investment business was incidental to their professional services.
At 31 March 2001 the number of these professional firms certified by their recognised professional bodies under the FS Act was as follows:The Law Society (ie England and Wales)—6,646The Law Society of Scotland—525The Institute of Chartered Accountants in England and Wales—4,718The Institute of Chartered Accountants of Scotland—397.
The number of these professional firms currently regulated by the FSA is as follows:The Law Society (ie England and Wales)—361The Law Society of Scotland—151The Institute of Chartered Accountants in England and Wales—660The Institute of Chartered Accountants of Scotland—55.