{
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        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
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        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-14T10:10:00+00:00",
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    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "product_policy_branch": "ETF",
    "fund_name": "L&G S&P 100 Equal Weight UCITS ETF",
    "isin": "IE000YELA4E3",
    "type": "ETF",
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    "asset_class": "Equity",
    "replication_method": "physical",
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        "inverse": false,
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        "derivatives_core_strategy": false,
        "derivatives_epm_only": null,
        "swaps": false,
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        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": true,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
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        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
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        "crypto_digital_asset": false
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        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
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        "risk_level": "moderate",
        "drivers": [
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product is identified as a UCITS ETF using physical replication or direct portfolio holdings. No leverage, inverse exposure, synthetic replication or structured payoff was identified. Some ordinary market, credit, duration, liquidity or counterparty-risk language may still be present, but this does not by itself make the product complex.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
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            "signal": "replication_method",
            "quote": "Physical Full Replication: The fund aims to track the Index by buying and holding the same investments as the index, in broadly the same proportions"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Fund may also invest in ... financial derivative instruments (\"FDIs\")"
        },
        {
            "source": "KIID",
            "signal": "counterparty_risk",
            "quote": "Third party service providers (such as counterparties entering into FDIs with the Fund or the Company's depositary) may go bankrupt and fail to pay money due to the Fund or return property belonging to the Fund."
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
        "derivatives_epm_only: Not specified whether derivatives are limited to efficient portfolio management.",
        "securities_lending: Not mentioned in any document."
    ],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
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            "http_code": 200,
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            "http_code": 200,
            "bytes": 12033,
            "error": null
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            "url": "https://oppl.ai/apy/doc_store/IE000YELA4E3_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 25757,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000YELA4E3&size=3",
            "found": true,
            "http_code": 200,
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