diff --git a/tests/test_factor_rules.py b/tests/test_factor_rules.py
index 579aa2ac..7f0b6df7 100644
--- a/tests/test_factor_rules.py
+++ b/tests/test_factor_rules.py
@@ -244,6 +244,15 @@ class FactorRulesPathTests(unittest.TestCase):
         self.assertIn("- Signal bias: neutral", summary)
         self.assertIn("- Weight: low", summary)
 
+    def test_summarize_factor_rules_preserves_explicit_empty_conditions(self):
+        summary = summarize_factor_rules(
+            [{"name": "Carry", "signal": "neutral", "conditions": []}],
+            ticker="IWM",
+            trade_date="2026-03-07",
+        )
+
+        self.assertIn("- Conditions: No explicit conditions provided", summary)
+
 
 if __name__ == "__main__":
     unittest.main()