{
    "ok": true,
    "_meta": {
        "isin": "IE00BFNM3N12",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "strict",
        "policy_mode_description": "Any material derivative, swap, synthetic, complex underlying, structured payoff, roll-cost, leverage, inverse, or PRIIPs warning signal can drive complex classification.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-20T07:45:07+00:00",
        "captured_unix": 1781941507
    },
    "classification": "non-complex",
    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "product_policy_branch": "ETF",
    "fund_name": "iShares MSCI EM IMI Screened UCITS ETF USD (Dist)",
    "isin": "IE00BFNM3N12",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "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,
        "complex_index": false,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "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."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "replication_method_physical",
            "quote": "The Fund intends to replicate the Index by holding the equity securities, which make up the Index, in similar proportions to it."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method_physical",
            "quote": "Methodology : Replicated"
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method_physical",
            "quote": "Product Structure : Physical"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The investment manager may use financial derivative instruments (\u201cFDIs\u201d). (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The use of FDIs is expected to be limited for this Share Class."
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "This document provides you with key investor information about this Fund. ... iShares MSCI EM IMI Screened UCITS ETF"
        }
    ],
    "supporting_data": "UCITS physical ETF baseline applied. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE00BFNM3N12_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12420,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE00BFNM3N12.txt",
            "found": true,
            "http_code": 200,
            "bytes": 15472,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE00BFNM3N12_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12353,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE00BFNM3N12&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 475,
            "error": null
        }
    }
}