1.0Lexifyhttps://lexify.io/deLars Schlichtinghttps://lexify.io/de/author/lars/rich600338<blockquote class="wp-embedded-content" data-secret="c9w9GNn9CH"><a href="https://lexify.io/de/concentration-risk/">CONCENTRATION RISK</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://lexify.io/de/concentration-risk/embed/#?secret=c9w9GNn9CH" width="600" height="338" title="„CONCENTRATION RISK“ – Lexify" data-secret="c9w9GNn9CH" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script> /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); //# sourceURL=https://lexify.io/wp-includes/js/wp-embed.min.js </script>https://lexify.io/wp-content/uploads/2025/09/Compliance-06-25-per-sito-1.png19201080FINMA Circular 2025/2 introduces guidance on conduct obligations under the Financial Services Act (FinSA), including the management of concentrations risks. The Circular indicates as reference thresholds: 10% on individual securities and 20% with individual issuers. When these limits are exceeded, the portfolio manager is required to notify the client about the associated risks. These thresholds are indicative, not absolute, and can vary depending on the type of instrument and portfolio strategy. Special attention is required for certain structured financial instruments, such as Actively Managed Certificates (AMCs), where risk segregation and diversification need a more tailored assessment