Bright-line test: Difference between revisions

{{G}}Always uttered in the negative, and with insincere remorse — i.e., “sadly, [[there’s no bright line test]]” — a [[bright line test]] is a [[Metaphysics|metaphysical]] concept that does not exist as a matter of {{tag|New York Law}} (or for that matter Federal law or any other state’s law. It is a [[US attorney]]’s means of evading any responsibility for anything she says or does, instantly rendering any [[legal opinion]] she may have written to you worthless.

“There is no [[bright line test]] in the rules, and consequently there is always a potential risk that regulators might be [[inclined]] to take the view that your good faith practice on which your firm designed its implementation might not be [[Recharacterised|recharacterized]] as a [[safe harbor]] to Title III of Regulation G of Rule 14-a7 of the [[40 Act]] ...” zzzzz zzzz zzzz HEY! WAKE UP!