{
    "ok": true,
    "_meta": {
        "validator": "oppl_complex_asset_json_validator",
        "validator_version": "1.1.1",
        "captured_at_utc": "2026-08-08T11:24:32+00:00",
        "captured_unix": 1786188272,
        "input_source": "url",
        "input_url": "https://oppl.ai/llms/runs/etf/IE00BCHWNV48_balanced_latest.json",
        "source_assessment_hash": "651a15bf28cf53768444e2ece7a236c02289bef1cd9512545d91ea00ea8b5ca6",
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        "agent_provider": "openrouter",
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    },
    "isin": "IE00BCHWNV48",
    "classification": "non-complex",
    "policy_mode": "balanced",
    "decision_rule_applied": "etf_ucits_physical_no_complex_override_rule",
    "validator_verdict": "fail",
    "publishable": false,
    "confidence": 0.92,
    "issue_count": 3,
    "issues": [
        {
            "severity": "fail",
            "code": "unsupported_hard_complex_signal",
            "message": "The 'counterparty_risk' signal is true but lacks direct product-specific evidence proving OTC/counterparty/default/collateral risk exposure.",
            "source": "agent"
        },
        {
            "severity": "fail",
            "code": "unsupported_derivatives_epm_only_signal",
            "message": "The 'derivatives_epm_only' signal is true but is not directly supported by product-specific evidence proving ancillary or EPM derivative use; the supporting evidence is generic permission language.",
            "source": "agent"
        },
        {
            "severity": "fail",
            "code": "policy_violation_balanced_mode_helo_option_overlay",
            "message": "In balanced mode, a UCITS ETF with a named/core HELO or option-overlay strategy should be classified as complex, but classification is non-complex and derivatives_epm_only remains true.",
            "source": "agent"
        }
    ],
    "suggested_repairs": [
        "Add direct product-specific evidence proving ancillary or EPM derivative use to support the derivatives_epm_only signal.",
        "Provide explicit product-specific evidence for counterparty risk exposure if the counterparty_risk signal is to remain true; otherwise, set counterparty_risk to false.",
        "Reassess classification to complex if a HELO or option-overlay strategy is present in balanced mode, or remove derivatives_epm_only if no such strategy exists.",
        "Update supporting_evidence signal labels to reflect actual evidence type (e.g., derivatives_mentioned for generic permission)."
    ],
    "deterministic_review": {
        "ok": true,
        "validator_type": "deterministic",
        "validator_verdict": "pass",
        "publishable": true,
        "confidence": 0.88,
        "issues": [],
        "suggested_repairs": [],
        "decisive_signal_evidence": {
            "checked": true,
            "decision_rule_signal": null,
            "decision_rule_signal_true": null,
            "decision_rule_signal_supported": null,
            "true_hard_signals": [],
            "supported_hard_signals": [],
            "unsupported_hard_signals": [],
            "checks": []
        },
        "derivative_materiality": {
            "checked": true,
            "policy_mode": "balanced",
            "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,
            "core_derivative_evidence_count": 1,
            "only_permission_or_ancillary_derivative_evidence": false,
            "supported_independent_hard_signals": []
        },
        "detected_features": {
            "helo_or_core_options_overlay": false,
            "physical_replication": false,
            "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",
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        "max_tokens": 1800,
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            "completion_tokens": 574,
            "total_tokens": 2929,
            "raw": {
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                "completion_tokens": 574,
                "total_tokens": 2929,
                "cost": 0.0018604,
                "is_byok": false,
                "prompt_tokens_details": {
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                },
                "cost_details": {
                    "upstream_inference_cost": 0.0018604,
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        "cost": {
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            "actual_provider_cost_available": true,
            "model": "gpt-4.1-mini",
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            "completion_tokens": 574,
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            "input_cost_usd": 0.000942,
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            "pricing_basis": "openrouter_usage_cost"
        },
        "review": {
            "validator_verdict": "fail",
            "publishable": false,
            "confidence": 0.95,
            "summary": "The assessment classifies the UCITS ETF as non-complex under balanced mode with physical replication and derivatives_epm_only=true. However, the policy states that in balanced mode, a UCITS ETF with a named/core HELO or option-overlay strategy should be complex, and derivatives_epm_only signals related to HELO or option overlays should not remain labelled as derivatives_epm_only. The supporting evidence includes a generic permission statement for derivatives and a factsheet quote confirming physical replication, but no direct product-specific evidence supports the derivatives_epm_only signal as ancillary/EPM use. The counterparty_risk signal is true but lacks direct product-specific evidence linking it to OTC or collateral risk. The derivatives_core_strategy is false, consistent with physical replication, and no conflict with derivatives_epm_only is detected. The supporting evidence signal labels match their quotes. However, the presence of counterparty_risk without supporting evidence and derivatives_epm_only without direct ancillary/EPM evidence means hard-complex signals are unsupported. Therefore, the assessment fails internal consistency and policy logic checks and is not publishable as-is.",
            "issues": [
                {
                    "severity": "fail",
                    "code": "unsupported_hard_complex_signal",
                    "message": "The 'counterparty_risk' signal is true but lacks direct product-specific evidence proving OTC/counterparty/default/collateral risk exposure."
                },
                {
                    "severity": "fail",
                    "code": "unsupported_derivatives_epm_only_signal",
                    "message": "The 'derivatives_epm_only' signal is true but is not directly supported by product-specific evidence proving ancillary or EPM derivative use; the supporting evidence is generic permission language."
                },
                {
                    "severity": "fail",
                    "code": "policy_violation_balanced_mode_helo_option_overlay",
                    "message": "In balanced mode, a UCITS ETF with a named/core HELO or option-overlay strategy should be classified as complex, but classification is non-complex and derivatives_epm_only remains true."
                }
            ],
            "suggested_repairs": [
                "Add direct product-specific evidence proving ancillary or EPM derivative use to support the derivatives_epm_only signal.",
                "Provide explicit product-specific evidence for counterparty risk exposure if the counterparty_risk signal is to remain true; otherwise, set counterparty_risk to false.",
                "Reassess classification to complex if a HELO or option-overlay strategy is present in balanced mode, or remove derivatives_epm_only if no such strategy exists.",
                "Update supporting_evidence signal labels to reflect actual evidence type (e.g., derivatives_mentioned for generic permission)."
            ]
        }
    }
}