{
    "ok": true,
    "_meta": {
        "isin": "XS2937253818",
        "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": "2026-06-19T12:25:57+00:00",
        "captured_unix": 1781871957
    },
    "classification": "complex",
    "confidence": 0.86,
    "review_required": false,
    "decision_rule_applied": "strict_etc_default_complex_rule",
    "product_policy_branch": "ETC",
    "fund_name": "Sprott Physical Uranium ETC",
    "isin": "XS2937253818",
    "type": "ETC",
    "ucits": false,
    "asset_class": "Commodities",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": false,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": false,
        "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": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": true,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "ETC wrapper under strict policy"
    ],
    "non_complex_factors": [
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "No specific difficult-to-understand product mechanic was identified from the available documents"
        ],
        "plain_english_explanation": "The available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "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": "type",
            "quote": "The ETC, is an exchange traded series of secured debt securities issued by the Company that are physically backed by the Underlying Asset"
        },
        {
            "source": "KIID",
            "signal": "replication_method",
            "quote": "The ETC will hold the Sprott Physical Uranium Trust, a Canadian Trust ETP (the \"Underlying Asset\"). The Underlying Asset seeks to provide exposure to the performance of physical Uranium, by holding physical stock in warehouses"
        },
        {
            "source": "FACTSHEET",
            "signal": "ucits_eligible",
            "quote": "UCITS Eligible Yes"
        },
        {
            "source": "KIID",
            "signal": "no_derivatives",
            "quote": "No mention of derivatives, swaps, or synthetic replication in the KIID"
        },
        {
            "source": "KIID",
            "signal": "no_leverage",
            "quote": "No mention of leverage, inverse, or multiplication of exposure"
        }
    ],
    "supporting_data": "Strict mode treats ETCs as complex by default. Policy mode: strict. Product type: ETC. UCITS signal not identified. Replication method: physical.",
    "missing_data": [
        "priips_kid",
        "No PRIIPs comprehension alert explicitly found in KIID",
        "No detailed information on the underlying trust's structure beyond holding physical uranium"
    ],
    "warnings": [
        "physical_allocated_commodity_signal_without_strong_support_ignored"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/XS2937253818_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 8315,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/XS2937253818.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/XS2937253818_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14144,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=XS2937253818&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 630,
            "error": null
        }
    }
}