{
    "ok": true,
    "_meta": {
        "validator": "oppl_complex_asset_json_validator",
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        "captured_at_utc": "2026-08-09T15:22:48+00:00",
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            "message": "Swaps signal is supported by permission-based product-specific evidence but no core derivative exposure evidence exists. This supports derivatives_epm_only=true and derivatives_core_strategy=false, consistent with non-complex classification in strict mode.",
            "source": "agent"
        },
        {
            "severity": "warn",
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            "message": "Counterparty risk signal is supported by direct product-specific counterparty risk language.",
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            "type": "ETF",
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            "physical_replication": true,
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            "validator_verdict": "pass",
            "publishable": true,
            "confidence": 0.88,
            "summary": "The assessment is internally consistent with classification=non-complex supported by physical replication evidence and permission/ancillary derivative use only. The derivatives_epm_only=true flag is supported by product-specific EPM and swap permission evidence, while derivatives_core_strategy=false is correct and supported by absence of core derivative evidence. The swaps=true signal is supported by direct product-specific swap permission quotes, but no core swap exposure evidence exists, consistent with non-complex classification in strict mode. No conflict exists between derivatives_epm_only and derivatives_core_strategy flags. Supporting evidence signals match their quotes. No HELO or option overlay evidence is present, so no re-labelling of derivatives_epm_only is needed. The decision_rule_applied is a non-complex physical replication rule consistent with evidence. No unsupported hard signals drive the decision. The counterparty_risk signal is supported by direct counterparty risk language. The assessment is publishable as-is with no repairs needed.",
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                {
                    "severity": "warn",
                    "code": "swap_permission_language_identified_not_core_strategy",
                    "message": "Swaps signal is supported by permission-based product-specific evidence but no core derivative exposure evidence exists. This supports derivatives_epm_only=true and derivatives_core_strategy=false, consistent with non-complex classification in strict mode."
                },
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                    "severity": "warn",
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                    "message": "Counterparty risk signal is supported by direct product-specific counterparty risk language."
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            ],
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}