{
    "ok": true,
    "_meta": {
        "validator": "oppl_complex_asset_json_validator",
        "validator_version": "1.1.1",
        "captured_at_utc": "2026-08-08T14:13:00+00:00",
        "captured_unix": 1786198380,
        "input_source": "url",
        "input_url": "https://oppl.ai/llms/runs/etf/IE00BFNNN236_strict_latest.json",
        "source_assessment_hash": "3874776b5aec93890fac96f032eddd3796a26ab425f75cdaea51ceddd57027e2",
        "agent_enabled": true,
        "agent_provider": "openrouter",
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        "agent_max_tokens": 1800,
        "warn_short_agent": true,
        "validator_modes": {
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            "agent": "executed"
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    },
    "isin": "IE00BFNNN236",
    "classification": "complex",
    "policy_mode": "strict",
    "decision_rule_applied": "etf_coco_or_at1_exposure_hard_complex_rule",
    "validator_verdict": "pass",
    "publishable": true,
    "confidence": 0.88,
    "issue_count": 0,
    "issues": [],
    "suggested_repairs": [],
    "deterministic_review": {
        "ok": true,
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        "validator_verdict": "pass",
        "publishable": true,
        "confidence": 0.88,
        "issues": [],
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        "decisive_signal_evidence": {
            "checked": true,
            "decision_rule_signal": "coco_or_at1_exposure",
            "decision_rule_signal_true": true,
            "decision_rule_signal_supported": true,
            "true_hard_signals": [
                "coco_or_at1_exposure"
            ],
            "supported_hard_signals": [
                "coco_or_at1_exposure"
            ],
            "unsupported_hard_signals": [],
            "checks": {
                "coco_or_at1_exposure": {
                    "signal_true": true,
                    "direct_evidence": true,
                    "matching_evidence_count": 2,
                    "decision_rule_uses_signal": true,
                    "matches": [
                        {
                            "index": 0,
                            "source": "KIID",
                            "evidence_signal": "coco_or_at1_exposure",
                            "quote": "Contingent convertible bonds (\u201cCoCos\u201d) are a form of hybrid debt security that are intended to either convert into equity or have their principal partially or completely written off or written off with the option of revaluation under certain circumstances."
                        },
                        {
                            "index": 1,
                            "source": "KIID",
                            "evidence_signal": "illiquid_or_hard_to_value_underlying",
                            "quote": "CoCos are relatively new and complex instruments, and the behaviour and liquidity of the CoCo market under a stressed financial environment is not fully tested."
                        }
                    ]
                }
            }
        },
        "derivative_materiality": {
            "checked": true,
            "policy_mode": "strict",
            "type": "ETF",
            "ucits": true,
            "physical_replication": false,
            "swaps_signal": false,
            "synthetic_replication": false,
            "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": [
                "coco_or_at1_exposure"
            ]
        },
        "detected_features": {
            "helo_or_core_options_overlay": false,
            "physical_replication": false,
            "has_epm_only_evidence": true,
            "has_core_derivatives_evidence": false,
            "has_generic_fdi_permission_evidence": false,
            "has_option_overlay_evidence": false
        }
    },
    "agent_review": {
        "ok": true,
        "model": "gpt-4.1-mini",
        "temperature": 0,
        "max_tokens": 1800,
        "usage": {
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            "completion_tokens": 233,
            "total_tokens": 3031,
            "raw": {
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                "completion_tokens": 233,
                "total_tokens": 3031,
                "cost": 0.001492,
                "is_byok": false,
                "prompt_tokens_details": {
                    "cached_tokens": 0,
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                    "audio_tokens": 0,
                    "video_tokens": 0
                },
                "cost_details": {
                    "upstream_inference_cost": 0.001492,
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                    "upstream_inference_completions_cost": 0.0003728
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                "completion_tokens_details": {
                    "reasoning_tokens": 0,
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        },
        "cost": {
            "estimated": false,
            "actual_provider_cost_available": true,
            "model": "gpt-4.1-mini",
            "prompt_tokens": 2798,
            "completion_tokens": 233,
            "total_tokens": 3031,
            "input_cost_usd": 0.0011192,
            "output_cost_usd": 0.0003728,
            "estimated_cost_usd": 0.001492,
            "pricing_basis": "openrouter_usage_cost"
        },
        "review": {
            "validator_verdict": "pass",
            "publishable": true,
            "confidence": 0.93,
            "summary": "The assessment is internally consistent with classification=complex driven by a hard-complex CoCo or AT1 exposure signal, which is directly supported by product-specific evidence from the KIID. The derivatives signals indicate derivatives_epm_only=true and derivatives_core_strategy=false, consistent with the evidence showing only ancillary/efficient portfolio management derivative use (currency forwards for hedging). The derivatives_epm_only signal is correctly supported by matching evidence and does not conflict with derivatives_core_strategy. Counterparty risk is supported by specific evidence and not merely asserted. There is no HELO or option overlay strategy present, so no conflict with balanced mode policy. The product is a physical replication UCITS ETF with no synthetic replication or core derivative strategy, consistent with policy. All supporting evidence quotes match their signal labels. No unsupported hard-complex signals are present. The JSON is internally consistent, policy-compliant, and client-publishable as-is. No repairs are needed.",
            "issues": [],
            "suggested_repairs": []
        }
    }
}