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        "validator": "oppl_complex_asset_json_validator",
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        "captured_at_utc": "2026-08-09T17:46:14+00:00",
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        "input_source": "url",
        "input_url": "https://oppl.ai/llms/runs/etf/IE00B7KMNP07_ucits_default_latest.json",
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        "agent_enabled": true,
        "agent_provider": "openrouter",
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    "isin": "IE00B7KMNP07",
    "classification": "non-complex",
    "policy_mode": "ucits_default",
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "source_classification": null,
    "source_decision_rule_applied": null,
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    "validator_verdict": "warn",
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    "confidence": 0.78,
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            "severity": "warn",
            "code": "unsubstantiated_hard_signal_on_non_complex_synthetic_replication",
            "message": "signals.synthetic_replication=true but no supporting_evidence quote directly substantiates that hard-complex feature. Because the signal itself is not evidentially substantiated, it must not be used by the validator to overturn an otherwise coherent non-complex classification."
        },
        {
            "severity": "warn",
            "code": "unsubstantiated_swap_signal_on_non_complex",
            "message": "signals.swaps=true but no supporting evidence quote directly mentions a swap, TRS or CFD. Because the swap flag is unsubstantiated and is not used by decision_rule_applied, it must not be used to overturn an otherwise coherent non-complex classification."
        },
        {
            "severity": "warn",
            "code": "physical_rule_without_direct_physical_evidence",
            "message": "decision_rule_applied explicitly asserts physical replication, but no product-specific supporting evidence quote directly substantiates physical/direct replication. This is a rule-specificity evidence gap and does not by itself invalidate an otherwise coherent non-complex classification."
        },
        {
            "severity": "warn",
            "code": "unsubstantiated_synthetic_replication_signal",
            "message": "signals.synthetic_replication=true but no direct product-specific supporting evidence quote substantiates this hard-complex feature. It must not be used to overturn the non-complex classification.",
            "source": "agent"
        },
        {
            "severity": "warn",
            "code": "unsubstantiated_swap_signal",
            "message": "signals.swaps=true but no direct product-specific supporting evidence quote mentions swap, TRS or CFD. The swap flag is unsubstantiated and not used by the decision rule.",
            "source": "agent"
        }
    ],
    "suggested_repairs": [
        "Remove or downgrade unsupported synthetic_replication, or add product-specific evidence for it. Until supported, treat it as an evidence-quality flag rather than a classification contradiction.",
        "Remove or correct the unsupported signals.swaps=true flag, or add direct product-specific swap/TRS/CFD evidence. Until supported, treat it as an evidence-quality warning rather than a classification contradiction.",
        "Add product-specific physical/direct replication evidence, or use a more general UCITS no-complex-override rule that does not assert physical replication.",
        "Add direct product-specific evidence quotes explicitly confirming physical replication to support the decision rule.",
        "Remove or correct the unsupported synthetic_replication=true signal or add supporting product-specific evidence.",
        "Remove or correct the unsupported swaps=true signal or add direct product-specific swap/TRS/CFD evidence."
    ],
    "reassessment": {
        "required": false
    },
    "deterministic_review": {
        "ok": true,
        "validator_type": "deterministic",
        "validator_verdict": "warn",
        "publishable": true,
        "confidence": 0.78,
        "issues": [
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                "severity": "warn",
                "code": "unsubstantiated_hard_signal_on_non_complex_synthetic_replication",
                "message": "signals.synthetic_replication=true but no supporting_evidence quote directly substantiates that hard-complex feature. Because the signal itself is not evidentially substantiated, it must not be used by the validator to overturn an otherwise coherent non-complex classification."
            },
            {
                "severity": "warn",
                "code": "unsubstantiated_swap_signal_on_non_complex",
                "message": "signals.swaps=true but no supporting evidence quote directly mentions a swap, TRS or CFD. Because the swap flag is unsubstantiated and is not used by decision_rule_applied, it must not be used to overturn an otherwise coherent non-complex classification."
            },
            {
                "severity": "warn",
                "code": "physical_rule_without_direct_physical_evidence",
                "message": "decision_rule_applied explicitly asserts physical replication, but no product-specific supporting evidence quote directly substantiates physical/direct replication. This is a rule-specificity evidence gap and does not by itself invalidate an otherwise coherent non-complex classification."
            }
        ],
        "suggested_repairs": [
            "Remove or downgrade unsupported synthetic_replication, or add product-specific evidence for it. Until supported, treat it as an evidence-quality flag rather than a classification contradiction.",
            "Remove or correct the unsupported signals.swaps=true flag, or add direct product-specific swap/TRS/CFD evidence. Until supported, treat it as an evidence-quality warning rather than a classification contradiction.",
            "Add product-specific physical/direct replication evidence, or use a more general UCITS no-complex-override rule that does not assert physical replication."
        ],
        "reassessment": {
            "required": false
        },
        "resolution": {
            "applied": false
        },
        "decisive_signal_evidence": {
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            "decision_rule_signal": null,
            "decision_rule_signal_true": null,
            "decision_rule_signal_supported": null,
            "decision_rule_matching_evidence_count": null,
            "decision_rule_matches": [],
            "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": []
                }
            }
        },
        "derivative_materiality": {
            "checked": true,
            "policy_mode": "ucits_default",
            "type": "ETF",
            "ucits": true,
            "physical_replication": true,
            "swaps_signal": true,
            "synthetic_replication": true,
            "derivatives_core_strategy": false,
            "derivatives_epm_only": true,
            "derivative_evidence_count": 1,
            "swap_evidence_count": 0,
            "permission_or_ancillary_evidence_count": 1,
            "core_derivative_evidence_count": 0,
            "only_permission_or_ancillary_derivative_evidence": true,
            "supported_independent_hard_signals": []
        },
        "source_decisive_signal_evidence": null,
        "source_derivative_materiality": null,
        "detected_features": {
            "helo_or_core_options_overlay": false,
            "physical_replication": true,
            "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": true,
            "has_option_overlay_evidence": false
        }
    },
    "agent_review": {
        "ok": true,
        "model": "gpt-4.1-mini",
        "temperature": 0,
        "max_tokens": 1800,
        "usage": {
            "prompt_tokens": 4458,
            "completion_tokens": 475,
            "total_tokens": 4933,
            "raw": {
                "prompt_tokens": 4458,
                "completion_tokens": 475,
                "total_tokens": 4933,
                "cost": 0.0019672,
                "is_byok": false,
                "prompt_tokens_details": {
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                    "cache_write_tokens": 0,
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                },
                "cost_details": {
                    "upstream_inference_cost": 0.0019672,
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                "completion_tokens_details": {
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                    "image_tokens": 0,
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            }
        },
        "cost": {
            "estimated": false,
            "actual_provider_cost_available": true,
            "model": "gpt-4.1-mini",
            "prompt_tokens": 4458,
            "completion_tokens": 475,
            "total_tokens": 4933,
            "input_cost_usd": 0.0012072,
            "output_cost_usd": 0.00076,
            "estimated_cost_usd": 0.0019672,
            "pricing_basis": "openrouter_usage_cost"
        },
        "review": {
            "validator_verdict": "warn",
            "publishable": true,
            "confidence": 0.78,
            "summary": "The assessment is internally consistent and coherent with the ucits_default policy mode defaulting to non-complex classification. The decision rule applied (etf_ucits_physical_no_complex_override_rule) matches the non-complex classification and the physical replication signal, although no direct product-specific physical replication evidence quote is present. The derivatives_epm_only=true flag is supported by generic permission/ancillary derivative use evidence, but the derivatives_core_strategy=false flag is consistent with no core derivative strategy evidence. The synthetic_replication and swaps signals are unsubstantiated by direct product-specific evidence and are not used by the decision rule, so they generate warnings but do not invalidate the classification. The supporting evidence quotes correctly map to their signals. There is no conflict between derivatives_epm_only and derivatives_core_strategy flags. The assessment is publishable as-is but would benefit from evidence hygiene improvements. Deterministic evidence does not substantiate signals.swaps=true; treat that flag as an evidence-hygiene warning unless direct swap/TRS/CFD evidence is added. The applied decision rule asserts physical replication, but deterministic evidence does not directly substantiate physical/direct replication; treat this as a publishable rule-specificity evidence warning rather than a classification contradiction.",
            "issues": [
                {
                    "severity": "warn",
                    "code": "unsubstantiated_synthetic_replication_signal",
                    "message": "signals.synthetic_replication=true but no direct product-specific supporting evidence quote substantiates this hard-complex feature. It must not be used to overturn the non-complex classification."
                },
                {
                    "severity": "warn",
                    "code": "unsubstantiated_swap_signal",
                    "message": "signals.swaps=true but no direct product-specific supporting evidence quote mentions swap, TRS or CFD. The swap flag is unsubstantiated and not used by the decision rule."
                },
                {
                    "severity": "warn",
                    "code": "physical_rule_without_direct_physical_evidence",
                    "message": "decision_rule_applied asserts physical replication but no direct product-specific evidence quote explicitly substantiates physical/direct replication. This is an evidence gap but does not invalidate the non-complex classification."
                }
            ],
            "suggested_repairs": [
                "Add direct product-specific evidence quotes explicitly confirming physical replication to support the decision rule.",
                "Remove or correct the unsupported synthetic_replication=true signal or add supporting product-specific evidence.",
                "Remove or correct the unsupported swaps=true signal or add direct product-specific swap/TRS/CFD evidence."
            ]
        }
    }
}