{
    "ok": true,
    "_meta": {
        "isin": "GB00B00FHZ82",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "strict",
        "policy_mode_description": "Any material derivative, swap, synthetic, complex underlying, structured payoff, roll-cost, leverage, inverse, or PRIIPs warning signal can drive complex classification.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-26T04:23:15+00:00",
        "captured_unix": 1782447795
    },
    "classification": "complex",
    "confidence": 0.9,
    "review_required": false,
    "decision_rule_applied": "strict_etc_default_complex_rule",
    "product_policy_branch": "ETC",
    "fund_name": "Gold Bullion Securities",
    "isin": "GB00B00FHZ82",
    "type": "ETC",
    "ucits": false,
    "asset_class": "Commodities",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": false,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": true,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "ETC wrapper under strict policy"
    ],
    "non_complex_factors": [
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified",
        "Plain physically-backed allocated commodity exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "No specific difficult-to-understand product mechanic was identified from the available documents"
        ],
        "plain_english_explanation": "The available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "physical_allocated_commodity",
            "quote": "Gold Bullion Securities is backed by physical, allocated Physical Gold held by HSBC Bank plc (the custodian). Only metal that conforms with the London Bullion Market Association's (LBMA) rules for Good Delivery can be accepted by the custodian. Each physical bar is segregated, individually identified and allocated."
        },
        {
            "source": "FACTSHEET",
            "signal": "physical_allocated_commodity",
            "quote": "Replication Method: Physical - backed by bullion"
        },
        {
            "source": "FACTSHEET",
            "signal": "physical_allocated_commodity",
            "quote": "Metals Lending: No"
        }
    ],
    "supporting_data": "Strict mode treats ETCs as complex by default, including physically-backed ETCs. Policy mode: strict. Product type: ETC. UCITS signal not identified. Replication method: physical.",
    "missing_data": [
        "priips_kid"
    ],
    "warnings": [],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/GB00B00FHZ82_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10612,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/GB00B00FHZ82.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/GB00B00FHZ82_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 14259,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=GB00B00FHZ82&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 1526,
            "error": null
        }
    }
}