Standards Governance

Process and Standards Group (PSG)

Providing detailed Governance of the evolution of Criterion Standards.

Progress this Month:

The PSG last met on 2 February. Input papers and full Minutes are available on Criterion’s website. The Group also held a Focus Session on the Market Landscape Review, which will create a new baseline for Criterion’s understanding of key dynamics in UK Financial Services.

The Group will next meet on 10 and 11 May, with Agenda and input papers to be provided in due course.

Future Milestones:

  • Tuesday, 10 May 2022 - (Focus Session)
  • Wednesday, 11 May 2022 - (Plenary Meeting)
  • Wednesday, 17 August 202 - (Prioritisation Exercise)
  • Tuesday, 1 November 2022 - (Focus Session)
  • Wednesday, 2 November 2022 - (Plenary Meeting)

Standards Technical Architecture Group (STAG)

Providing technical Governance to Criterion Standards.

Progress this Month:

  • No STAG business currently in progress.

Future Milestones:

  • Criterion will continue to liaise with the STAG on the technical direction of Standards, and how the emergence and adoption of new technologies will shape their future.

Standards Activities

Letter of Authority Standards Development

Development Project to develop Standards to support the Letter of Authority fulfilment process for DB, DC Pensions, Annuities, Protection and Investment Products.

Progress this Month:

  • Phase 3 – ProtectionFinal touches to the LoA Protection Standards have been worked on and QA completed.
  • Phase 4 – LoA RequestLoA Request BRD was updated and published to Working Group at Draft B.  A Solutions Options document was issued to the Working Group covering options for the Client Authentication processes for LoA Requests and to test / identify all possible solution options.

Future Milestones:

  • April: LoA Protection Standards will be published to the industry at Draft A.
  • April: The LoA Request Candidate Design will be issued to the Working Group for review.

Occupation Codes List 2020 Update Implementation

Supporting Industry adoption of the revised Occupation Codes Standard used in quotations and new business processes.

Progress this Month:

  • A meeting was held on 30 March 2022 to discuss Next Steps.

Future Milestones:

  • April: To promote Industry implementation of the revised Occupations Codes List, it was agreed that a set of questions would be issued to the Product Providers in the Working Group, to establish the earliest dates that they feel they would be able to support Codes & Descriptions from both versions 2.0 and 3.0 of the Occupation Codes List.

Group Risk Quotes

Standards Development project to develop Standards for Group Risk Quotes (GRQ) and Rate Review or Re-Pricing.

Progress this Month:

  • The development of the BRD was continued and an approach agreed to continue analysis of GLA Data Items covering the Rate Review and Re-pricing business processes.

Future Milestones:

  • April: The GRQ GLA New provider BRD will be published to the Working Group and a review meeting organised.

Gender Identity Research

Understand how changing attitudes to gender identity can best be supported in Criterion Standards.

Progress this Month:

  • The Gender Identity Research Group reviewed and approved the report prepared by Criterion. The Report will now be made available to the PSG for consideration.

Future Milestones:

  • Research project complete.

BAU Change Requests

  • Bulk Valuation enhancements.
  • FCA Reference Number changes.
  • FIT Data Pattern changes.

Progress this Month:


  • Bulk Valuations 1.1 Final published following PSG agreement.
  • Progress made in relation to CRs of FIT Data Patterns including FCA Reference changes.

Future Milestones:

  • Continue with changes to FIT Data Patterns.
  • Commence finalisation process for Quotes New Business Standards that were updated with FCA Reference changes in Apr/May 2021.

Deliverables/Documentation Published in March 2022

General Documentation:

  • LoA Request Solution Recommendations – Published on 17 March 2022
  • GRQ Standards Development Prioritisation – Published on 21 March 2022
  • DFM Model Portfolio Management Working Group – Terms of Reference – Published on 24 March 2022
  • DFMMPMWG - Project Structure Overview – Published on 24 March 2022