{
    "ok": true,
    "_meta": {
        "validator": "oppl_complex_asset_json_validator",
        "validator_version": "1.1.1",
        "captured_at_utc": "2026-08-08T18:15:28+00:00",
        "captured_unix": 1786212928,
        "input_source": "url",
        "input_url": "https://oppl.ai/llms/runs/etf/DE0005933923_ucits_default_latest.json",
        "source_assessment_hash": "56df8f575ee102eacd6b02a0ef17a54917499d9d2257489510d79dc58f3194d5",
        "agent_enabled": true,
        "agent_provider": "openrouter",
        "agent_model": "gpt-4.1-mini",
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    "policy_mode": "ucits_default",
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "validator_verdict": "warn",
    "publishable": true,
    "confidence": 0.78,
    "issue_count": 2,
    "issues": [
        {
            "severity": "warn",
            "code": "derivatives_mentioned_without_derivative_evidence",
            "message": "derivatives_mentioned=true but no derivative-related evidence item is present."
        },
        {
            "severity": "warn",
            "code": "derivatives_mentioned_without_derivative_evidence",
            "message": "derivatives_mentioned=true but no derivative-related evidence item is present beyond generic EPM permission language. This is acceptable given derivatives_epm_only=true and no core derivative strategy.",
            "source": "agent"
        }
    ],
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        "ok": true,
        "validator_type": "deterministic",
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        "confidence": 0.78,
        "issues": [
            {
                "severity": "warn",
                "code": "derivatives_mentioned_without_derivative_evidence",
                "message": "derivatives_mentioned=true but no derivative-related evidence item is present."
            }
        ],
        "suggested_repairs": [],
        "decisive_signal_evidence": {
            "checked": true,
            "decision_rule_signal": null,
            "decision_rule_signal_true": null,
            "decision_rule_signal_supported": null,
            "true_hard_signals": [],
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            "unsupported_hard_signals": [],
            "checks": []
        },
        "derivative_materiality": {
            "checked": true,
            "policy_mode": "ucits_default",
            "type": "ETF",
            "ucits": true,
            "physical_replication": false,
            "swaps_signal": false,
            "synthetic_replication": false,
            "derivatives_core_strategy": false,
            "derivatives_epm_only": true,
            "derivative_evidence_count": 2,
            "swap_evidence_count": 0,
            "permission_or_ancillary_evidence_count": 1,
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            "only_permission_or_ancillary_derivative_evidence": false,
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        "detected_features": {
            "helo_or_core_options_overlay": false,
            "physical_replication": false,
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            "has_core_derivatives_evidence": false,
            "has_generic_fdi_permission_evidence": false,
            "has_option_overlay_evidence": false
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        "model": "gpt-4.1-mini",
        "temperature": 0,
        "max_tokens": 1800,
        "usage": {
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            "completion_tokens": 284,
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            "raw": {
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                "completion_tokens": 284,
                "total_tokens": 2767,
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                "prompt_tokens_details": {
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                    "audio_tokens": 0,
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                },
                "cost_details": {
                    "upstream_inference_cost": 0.0014476,
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                "completion_tokens_details": {
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                    "image_tokens": 0,
                    "audio_tokens": 0
                }
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        "cost": {
            "estimated": false,
            "actual_provider_cost_available": true,
            "model": "gpt-4.1-mini",
            "prompt_tokens": 2483,
            "completion_tokens": 284,
            "total_tokens": 2767,
            "input_cost_usd": 0.0009932,
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            "pricing_basis": "openrouter_usage_cost"
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            "validator_verdict": "warn",
            "publishable": true,
            "confidence": 0.82,
            "summary": "The assessment is internally consistent and aligns with policy for a UCITS physical replication ETF classified as non-complex under the applied decision rule. Derivatives are mentioned and marked as EPM-only, supported by product-specific evidence indicating limited derivative use for efficient portfolio management and hedging. No core derivative strategy or synthetic replication evidence is present, consistent with classification. Counterparty risk language is supported by evidence but does not imply material derivative exposure. The derivatives_epm_only flag does not conflict with derivatives_core_strategy, which is false. The supporting evidence quotes match their signal labels. No HELO or option overlay strategy is present, so no reclassification is needed. The product is publishable as-is. A minor warning is raised because derivatives_mentioned=true but no explicit derivative-related evidence item is present beyond EPM permission language, which is acceptable in this context.",
            "issues": [
                {
                    "severity": "warn",
                    "code": "derivatives_mentioned_without_derivative_evidence",
                    "message": "derivatives_mentioned=true but no derivative-related evidence item is present beyond generic EPM permission language. This is acceptable given derivatives_epm_only=true and no core derivative strategy."
                }
            ],
            "suggested_repairs": []
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}