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> The regulator interprets the gap.

Technically, it will be the courts who (ultimately) interpret the gap, and it's worked so far for other standards like 'beyond reasonable doubt'. Courts have a tendency to be less capricious than a regulator.

I'd even go so far as to argue that "reason" is one of those things where specific examples can illustrate, but no more. Especially with regards to technology -- what is reasonable today, can be unreasonable tomorrow (eg: SHA1).

In the meantime, I'm positive that as of right now, 99% of the interpretation is performed by the data processors, and in most cases to their own benefit.




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