Yes, although it is not the best situation. Mainly this is because a bright tank typically has a dish bottom as opposed to the conical bottom of most fermentation vessels. The cone bottoms make it easier to remove yeast from the beer, easing the work of filtration or finings... sometimes making the use of either totally unnecessary.
"Why did you.... what was the point of... how drunk were you when you decided this was a good idea?" - DMartin