The Danish Financial Supervisory Authority found that four investment fund managers did not always have adequate procedures to ensure their packaged retail and insurance-based investment products key information documents, or PRIIP KIDs, were accurate, clear and not misleading. Its thematic review covered two investment management companies and two alternative investment fund managers and found that information on expected returns and costs was not always reliable. Several firms also lacked sufficient procedures to identify material product changes and promptly update and publish their PRIIP KIDs. This increased the risk that information on returns, risks and costs would become outdated as market conditions changed. Following the review, the authority updated its PRIIP KID questions and answers to clarify areas requiring particular attention and those where uncertainty about the requirements is greatest.
Danish Finanstilsynet2026-08-13
Danish Financial Supervisory Authority identifies shortcomings in fund managers’ PRIIP KID controls and updates guidance
The Danish Financial Supervisory Authority found weaknesses in four fund managers’ procedures for preparing and updating PRIIP KIDs, including unreliable information on expected returns and costs. It updated its guidance to clarify key requirements and areas of uncertainty.