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According to Article 321-76 of the AMF General Regulation, what is the risk associated with asset liquidity?

According to Article 321-76 of the AMF General Regulation, what is the risk associated with asset liquidity?

The risk that the asset cannot be sold quickly at a reasonable price
The risk that the asset loses value over the long term
The risk that the asset is subject to high volatility
The risk that the asset does not generate sufficient income