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        "Add product-specific core-derivative strategy evidence, or set derivatives_core_strategy=false/null if the flag cannot be substantiated.",
        "Remove or downgrade unsupported synthetic_replication, or add product-specific evidence for it. This is an evidence-quality repair and does not invalidate an independently supported complex classification."
    ],
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    "deterministic_review": {
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        "confidence": 0.78,
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                "severity": "warn",
                "code": "core_derivatives_true_without_core_evidence",
                "message": "derivatives_core_strategy=true but no product-specific core-derivative strategy evidence is present."
            },
            {
                "severity": "warn",
                "code": "non_decisive_hard_signal_without_direct_evidence_synthetic_replication",
                "message": "signals.synthetic_replication=true but no supporting_evidence quote directly substantiates that hard-complex feature. The signal is not used by decision_rule_applied and classification=complex is independently supported by: swaps."
            }
        ],
        "suggested_repairs": [
            "Add product-specific core-derivative strategy evidence, or set derivatives_core_strategy=false/null if the flag cannot be substantiated.",
            "Remove or downgrade unsupported synthetic_replication, or add product-specific evidence for it. This is an evidence-quality repair and does not invalidate an independently supported complex classification."
        ],
        "reassessment": {
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        },
        "resolution": {
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        },
        "decisive_signal_evidence": {
            "checked": true,
            "decision_rule_signal": "swaps",
            "decision_rule_signal_true": true,
            "decision_rule_signal_supported": true,
            "decision_rule_matching_evidence_count": 3,
            "decision_rule_matches": [
                {
                    "index": 0,
                    "source": "PRIIPS_KID",
                    "evidence_signal": "synthetic_replication",
                    "quote": "To achieve the objective the Fund will use unfunded swaps (\"Swaps\").... The performance of the Index is swapped from the counterparty to the Fund in exchange for the performance of equities and equity related securities held by the Fund."
                },
                {
                    "index": 1,
                    "source": "FACTSHEET",
                    "evidence_signal": "swaps",
                    "quote": "To achieve the objective the Fund will use unfunded swaps (\"Swaps\")."
                },
                {
                    "index": 2,
                    "source": "KIID",
                    "evidence_signal": "counterparty_risk",
                    "quote": "The Fund\u2019s ability to track the benchmark\u2019s performance is reliant on the counterparties to continuously deliver the performance of the benchmark in line with the swap agreements"
                }
            ],
            "true_hard_signals": [
                "synthetic_replication"
            ],
            "supported_hard_signals": [],
            "unsupported_hard_signals": [
                "synthetic_replication"
            ],
            "checks": {
                "synthetic_replication": {
                    "signal_true": true,
                    "direct_evidence": false,
                    "matching_evidence_count": 0,
                    "decision_rule_uses_signal": false,
                    "matches": []
                },
                "swaps": {
                    "signal_true": true,
                    "direct_evidence": true,
                    "matching_evidence_count": 3,
                    "decision_rule_uses_signal": true,
                    "matches": [
                        {
                            "index": 0,
                            "source": "PRIIPS_KID",
                            "evidence_signal": "synthetic_replication",
                            "quote": "To achieve the objective the Fund will use unfunded swaps (\"Swaps\").... The performance of the Index is swapped from the counterparty to the Fund in exchange for the performance of equities and equity related securities held by the Fund."
                        },
                        {
                            "index": 1,
                            "source": "FACTSHEET",
                            "evidence_signal": "swaps",
                            "quote": "To achieve the objective the Fund will use unfunded swaps (\"Swaps\")."
                        },
                        {
                            "index": 2,
                            "source": "KIID",
                            "evidence_signal": "counterparty_risk",
                            "quote": "The Fund\u2019s ability to track the benchmark\u2019s performance is reliant on the counterparties to continuously deliver the performance of the benchmark in line with the swap agreements"
                        }
                    ]
                }
            }
        },
        "derivative_materiality": {
            "checked": true,
            "policy_mode": "strict",
            "type": "ETF",
            "ucits": true,
            "physical_replication": false,
            "swaps_signal": true,
            "synthetic_replication": true,
            "derivatives_core_strategy": true,
            "derivatives_epm_only": false,
            "derivative_evidence_count": 3,
            "swap_evidence_count": 3,
            "permission_or_ancillary_evidence_count": 0,
            "core_derivative_evidence_count": 1,
            "only_permission_or_ancillary_derivative_evidence": false,
            "supported_independent_hard_signals": []
        },
        "source_decisive_signal_evidence": null,
        "source_derivative_materiality": null,
        "detected_features": {
            "helo_or_core_options_overlay": false,
            "physical_replication": false,
            "physical_replication_direct_evidence": false,
            "physical_replication_evidence_count": 0,
            "has_epm_only_evidence": false,
            "has_core_derivatives_evidence": false,
            "has_generic_fdi_permission_evidence": false,
            "has_option_overlay_evidence": false
        }
    },
    "agent_review": {
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                "prompt_tokens": 4672,
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                "cost_details": {
                    "upstream_inference_cost": 0.001952,
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                "completion_tokens_details": {
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        },
        "cost": {
            "estimated": false,
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            "model": "gpt-4.1-mini",
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            "pricing_basis": "openrouter_usage_cost"
        },
        "review": {
            "validator_verdict": "warn",
            "publishable": true,
            "confidence": 0.88,
            "summary": "The assessment is internally consistent and publishable with warnings. The complex classification is supported by direct product-specific swap evidence, which drives the decision_rule_applied 'strict_etf_swap_complex_rule'. However, the derivatives_core_strategy=true flag lacks direct product-specific core-derivative strategy evidence and is therefore unsupported. Additionally, the synthetic_replication signal is true but not directly evidenced by supporting quotes and is not used by the decision rule, making it an unsupported additional hard signal. There is no conflict between derivatives_epm_only (false) and derivatives_core_strategy (true). The derivative wording proves actual synthetic swap exposure and counterparty risk, consistent with a core derivative strategy in strict mode. No HELO or option overlay evidence is present, so no reclassification is needed. The client-facing JSON is publishable as-is but would benefit from repair to remove or substantiate unsupported signals.",
            "issues": [
                {
                    "severity": "warn",
                    "code": "core_derivatives_true_without_core_evidence",
                    "message": "derivatives_core_strategy=true but no product-specific core-derivative strategy evidence is present."
                },
                {
                    "severity": "warn",
                    "code": "non_decisive_hard_signal_without_direct_evidence_synthetic_replication",
                    "message": "signals.synthetic_replication=true but no supporting_evidence quote directly substantiates that hard-complex feature. The signal is not used by decision_rule_applied and classification=complex is independently supported by: swaps."
                }
            ],
            "suggested_repairs": [
                "Add product-specific core-derivative strategy evidence, or set derivatives_core_strategy=false/null if the flag cannot be substantiated.",
                "Remove or downgrade unsupported synthetic_replication, or add product-specific evidence for it. This is an evidence-quality repair and does not invalidate an independently supported complex classification."
            ]
        }
    }
}