/* ============================================================
   Albion Financial Group — Document content (the credibility payload)
   Block types: h | p | kpis | table | list | callout | resolved | sign | spacer
   ============================================================ */

const ARTIFACTS = {
  /* ---------------- 1. Compliance — Fair Value Gap Assessment ---------------- */
  gap: {
    key: 'gap',
    kicker: 'Compliance',
    type: 'Fair Value Gap Assessment',
    title: 'Retail Savings \u2014 Legacy Variable Rate Book',
    ref: 'AFG-COMP-FVA-26-0093',
    classification: 'Confidential \u2014 Board & Regulated Persons',
    date: '06 Jan 2026',
    version: 'v1.0 \u00b7 FINAL',
    author: 'Chief Compliance Officer (Agent AGT-CMP-02)',
    reviewer: 'Company Secretary \u00b7 mandate FV-26-0093',
    blocks: [
      { t:'h', text:'1. Executive summary' },
      { t:'p', html:true, text:'A review of the Retail savings back-book against the firm\u2019s on-sale range has identified a material fair-value gap. <strong>487,000 customers</strong> remain on the closed <em>Heritage Saver</em> (legacy variable) product paying <strong>0.75% AER</strong>, against an on-sale <em>Everyday Saver</em> rate of <strong>4.10% AER</strong> \u2014 a differential of <strong>335 basis points</strong> across <strong>\u00a33.84bn</strong> of balances. No product feature, cost-to-serve or customer benefit has been identified that justifies the differential.' },
      { t:'kpis', items:[
        { value:'487,000', label:'Customers affected', sub:'Retail \u00b7 Heritage Saver' },
        { value:'335 bps', label:'Rate gap', sub:'0.75% vs 4.10% AER' },
        { value:'\u00a33.84bn', label:'Balances in scope', sub:'as at 31 Dec 2025' },
        { value:'\u00a341.2m', label:'Indicative detriment', sub:'12-month, pre-redress' },
      ]},
      { t:'h', text:'2. Scope & methodology' },
      { t:'p', text:'Assessed under FCA PS26/4 (Fair Value \u2014 savings) and the Consumer Duty (PRIN 2A), price-and-value outcome. All closed and on-sale instant-access and notice savings products were compared on an AER-equivalent basis using the 31 December 2025 book extract. Mortgage, lending and packaged products are out of scope.' },
      { t:'list', items:[
        'Data source: Core Savings Ledger extract (31 Dec 2025), reconciled to the GL.',
        'Benchmark: current on-sale Everyday Saver and market median (Bank of England household rates).',
        'Test: differential between paid rate and fair-value benchmark, net of any product benefit.',
      ]},
      { t:'h', text:'3. Findings' },
      { t:'table', cols:['Product','Status','Customers','Balances','Paid AER','On-sale AER','Gap'],
        align:['l','l','r','r','r','r','r'],
        rows:[
          ['Heritage Saver','Closed','487,000','\u00a33.84bn','0.75%','4.10%','335 bps'],
          ['Reserve 30','Closed','94,200','\u00a30.71bn','1.40%','4.10%','270 bps'],
          ['Everyday Saver','On-sale','1,210,400','\u00a39.02bn','4.10%','4.10%','\u2014'],
        ],
        note:'Reserve 30 is a notice account; differential is partly justified by the 30-day notice benefit and is assessed separately. Heritage Saver carries no offsetting benefit.' },
      { t:'h', text:'4. Fair-value assessment' },
      { t:'p', text:'The Heritage Saver differential cannot be explained by cost-to-serve, distribution or any product benefit. The product is closed to new business, digitally serviced, and bears no notice or bonus condition. On the firm\u2019s price-and-value framework the outcome is assessed as failing to provide fair value to retail customers.' },
      { t:'callout', tone:'warn', text:'Vulnerability lens: 31% of affected customers are aged 65+ and 12% are flagged as potentially vulnerable. Tenure analysis shows a mean balance held at this rate of 6.2 years \u2014 indicating a long-standing, compounding detriment.' },
      { t:'h', text:'5. Recommendation' },
      { t:'list', ordered:true, items:[
        'Refer to the General Counsel to confirm the redress obligation and limitation period.',
        'Instruct Product to design a remediation and migration plan, including back-dated redress.',
        'Notify the FCA under Principle 11 once the remediation approach is Board-approved.',
        'Place the Heritage Saver book under enhanced monitoring pending remediation.',
      ]},
      { t:'sign', rows:[
        { role:'Prepared by', name:'Chief Compliance Officer \u00b7 AGT-CMP-02', date:'06 Jan 2026 \u00b7 11:42' },
        { role:'Routed to', name:'General Counsel \u00b7 AGT-LGL-03', date:'08 Jan 2026' },
      ]},
    ],
  },

  /* ---------------- 2. Legal — Counsel's Opinion ---------------- */
  legal: {
    key: 'legal',
    kicker: 'Office of the General Counsel',
    type: 'Counsel\u2019s Opinion',
    title: 'Fair Value Remediation \u2014 Obligation & Redress Period',
    ref: 'AFG-LGL-OP-26-0211',
    classification: 'Legally Privileged & Confidential',
    date: '11 Jan 2026',
    version: 'v1.0 \u00b7 FINAL',
    author: 'General Counsel (Agent AGT-LGL-03)',
    reviewer: 'In reliance on AFG-COMP-FVA-26-0093',
    blocks: [
      { t:'callout', tone:'privilege', text:'This document is subject to legal professional privilege. It is prepared for the Board and regulated persons of Albion Financial Group and must not be disclosed to third parties without the General Counsel\u2019s authorisation.' },
      { t:'h', text:'1. Question presented' },
      { t:'p', text:'Whether the firm is obliged to remediate the Heritage Saver back-book identified in the Fair Value Gap Assessment (AFG-COMP-FVA-26-0093), and if so, over what period redress should be calculated.' },
      { t:'h', text:'2. Short answer' },
      { t:'p', html:true, text:'<strong>Yes.</strong> A remediation obligation arises under PRIN 2A (the price-and-value outcome of the Consumer Duty) and the firm\u2019s overarching obligation to avoid foreseeable harm. In our opinion redress should be calculated from <strong>product inception for each affected account</strong>, not from the date of PS26/4, because the detriment is a continuing failure to deliver fair value rather than a breach created by the new rules.' },
      { t:'h', text:'3. Analysis' },
      { t:'list', ordered:true, items:[
        'PRIN 2A.3\u20132A.4 require products to provide fair value; a 335bps differential with no offsetting benefit is inconsistent with that outcome.',
        'The Consumer Duty\u2019s cross-cutting rules require firms to act in good faith and avoid causing foreseeable harm \u2014 engaged here by the closed-book pricing.',
        'PS26/4 clarifies, but does not create, the expectation; the harm pre-dates the rule and is continuing. Limiting redress to the rule date would under-compensate customers.',
        'A reasonable redress period is therefore from inception of each account on the legacy rate, capped at the firm\u2019s record-retention horizon (6 years) where earlier data is unavailable.',
      ]},
      { t:'h', text:'4. Redress quantification basis' },
      { t:'p', html:true, text:'Redress should equal the interest the customer would have received at the on-sale rate, less interest actually paid, plus simple interest at 8% on the shortfall. On the inception basis, the indicative exposure rises from the Compliance 12-month figure of <strong>\u00a341.2m</strong> to an estimated <strong>\u00a358.9m</strong>. Final figures are subject to Product\u2019s calculation engine and Internal Audit assurance.' },
      { t:'callout', tone:'warn', text:'Risk: failure to remediate on an adequate basis raises the prospect of a skilled-persons review (s166 FSMA) and Financial Ombudsman complaints. A robust, inception-based remediation materially reduces both.' },
      { t:'h', text:'5. Recommended actions' },
      { t:'list', items:[
        'Adopt the inception-based redress period set out above.',
        'Instruct Product to build the remediation on this basis and reconcile the revised exposure.',
        'Prepare a Principle 11 notification for the FCA for Board authorisation.',
      ]},
      { t:'sign', rows:[
        { role:'Opinion of', name:'General Counsel \u00b7 AGT-LGL-03', date:'11 Jan 2026 \u00b7 16:08' },
        { role:'Routed to', name:'Head of Product \u00b7 AGT-PRD-04', date:'13 Jan 2026' },
      ]},
    ],
  },

  /* ---------------- 3. Board — Minute & Resolution ---------------- */
  board: {
    key: 'board',
    kicker: 'Office of the Company Secretary',
    type: 'Minute & Resolution of the Board',
    title: 'Fair Value Remediation \u2014 Retail Savings',
    ref: 'AFG-COSEC-BM-26-014',
    classification: 'Confidential \u2014 Board',
    date: '01 Feb 2026',
    version: 'Resolution 2026-14',
    author: 'Company Secretary (Agent AGT-CSO-01)',
    reviewer: 'Chaired by the CEO & Board (Agent AGT-BRD-00)',
    blocks: [
      { t:'p', html:true, text:'Minute of a meeting of the Board of <strong>Albion Financial Group plc</strong> held on 1 February 2026. <strong>Present:</strong> the Board (AGT-BRD-00). <strong>In attendance:</strong> Company Secretary (AGT-CSO-01), and \u2014 by reference to their tabled artifacts \u2014 the Chief Compliance Officer, General Counsel, Head of Product and Head of Internal Audit.' },
      { t:'h', text:'Item 4 \u2014 Fair Value remediation: Retail savings back-book' },
      { t:'p', text:'The Board considered the remediation of the Heritage Saver legacy savings book, supported by the papers tabled below.' },
      { t:'table', cols:['Paper','Reference','Author'],
        align:['l','l','l'],
        rows:[
          ['Fair Value Gap Assessment','AFG-COMP-FVA-26-0093','Chief Compliance Officer'],
          ['Counsel\u2019s Opinion','AFG-LGL-OP-26-0211','General Counsel'],
          ['Remediation Plan rev.2','AFG-PRD-REM-26-0077','Head of Product'],
          ['Reasonable-Assurance Opinion','AFG-AUD-OP-26-0188','Head of Internal Audit'],
        ] },
      { t:'h', text:'Discussion' },
      { t:'p', text:'The Board noted that 487,000 customers were affected, that Counsel had confirmed an inception-based redress obligation, and that Internal Audit had initially rejected the plan before issuing reasonable assurance on rev.2. The Board was satisfied that the revised \u00a358.9m provision and 60-month redress period were prudent and consistent with the Consumer Duty.' },
      { t:'resolved', items:[
        'the remediation of the Heritage Saver book be APPROVED on the inception-based redress methodology;',
        'a provision of \u00a358.9m be established in the FY26 accounts;',
        'all affected accounts be uplifted to a minimum of 3.85% AER with effect from 01 July 2026;',
        'the FCA be notified under Principle 11, and the notification be authorised for filing by the Company Secretary;',
        'execution be delegated to the Head of Product, with Internal Audit to provide quarterly assurance to the Board.',
      ]},
      { t:'callout', tone:'info', text:'Vote: carried unanimously. No conflicts declared. Next review: Q3 2026 Board (remediation progress & customer-outcome metrics).' },
      { t:'sign', rows:[
        { role:'Certified a true record', name:'Company Secretary \u00b7 AGT-CSO-01', date:'01 Feb 2026 \u00b7 15:20' },
        { role:'Chair', name:'CEO & Board \u00b7 AGT-BRD-00', date:'01 Feb 2026' },
      ]},
    ],
  },
};

window.AlbionArtifacts = ARTIFACTS;