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Law As Symbol: Appearances In The Regulation Of Investment Advisers And Attorneys , Larry D. Barnett

Cleveland State Law Review

From a macrosociological perspective, law is an institution of society, is shaped by conditions in society, and facilitates social life by interalia producing symbols. Law accordingly adopts concepts and principles that focus on the appearance to society of certain phenomena and that are symbols when the phenomena are socially significant. To illustrate symbols in law, the article examines (i) the "hold oneself out" standard in defining an investment adviser under the federal Investment Advisers Act and (ii) the standard for ethical conduct that requires attorneys to avoid appearances of impropriety. If symbolic concepts and principles are tied to the properties …