Legend for layers with transparency set?

Hi

This has bugged me for a long time and I am sure ESRI must have solved this by now.

If I have a layer on my map that has a transparency set, when I create my legend, the symbol for that layer obviously doesn't reflect accurately the colour. For example, if my layer is a solid red at 50% transparency, it actually is a pink colour and the legend still shows it as solid red.

Other than a manual creation of an icon for the legend, there must be a way for the legend to pick up layers with transparency?!

Thanks