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On August 13, 2026, Denmark's Financial Supervisory Authority (FSA) published findings from a functional inspection of Navigare Capital Partners A/S conducted in April 2026. The inspection focused on the company's procedures for preparing and controlling Key Information Documents (PRIIP KID), which are standardised documents designed to provide retail and semi-professional investors with clear, understandable, and comparable information about investment products. The inspection was part of a thematic review covering two investment management companies and two alternative investment fund managers. The FSA's examination assessed compliance with the Packaged Retail and Insurance-based Investment Products Regulation (PRIIP Regulation). The PRIIP KID requirements aim to enable investors to understand and compare investment products' risks, costs, and potential returns, facilitating informed investment decisions. The FSA identified significant compliance failures. Navigare Capital Partners A/S disclosed a return target in its PRIIP KID substantially higher than the expected return calculated according to PRIIP KID requirements. This discrepancy creates confusion for investors attempting to understand expected returns and compare products across the market. Additionally, the company failed to calculate the impact of costs on returns using the internal rate of return (IRR) method as required. The FSA issued a compliance order requiring Navigare Capital Partners A/S to ensure accurate, fair, clear, and non-misleading content in its PRIIP KID documentation. The order references Article 6(1) of the PRIIP Regulation. The company must implement corrective measures to align its documentation with regulatory requirements and ensure investor protection through accurate product information disclosure.