{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The iShares MSCI World Screened UCITS ETF GBP Hedged (Dist) ETF is classified as non-complex. The KID document states that the fund aims to achieve its objective by investing in equity securities that make up the MSCI World Screened Index. The fund uses physical replication by investing directly in the constituent securities, this strategy allows the ETF to directly track its index, and its associated risks are relatively straightforward and easily understood by retail investors. The fund also hedges GBP currency risk. No swaps are explicitly mentioned to replicate the index. No leverage is used. Therefore, based on the framework, it is categorized as non-complex. ESMA states in section 2.1 that the classification depends on the service, product, and client. The ETF has a relatively simple structure which makes it non-complex. The ESMA guideline on complex debt instruments and structured deposits is also relevant. Section 2.4 requires the presentation of a warning to the client that they do not possess enough knowledge and experience to engage in a complex product. Finally in section 2.6 the requirements for record keeping are noted."
    }
}