COVID-19 Update

The Criterion team continues to work from home successfully in response to the current COVID-19 situation.

We are well placed to continue with our Standards commitments over the coming weeks whilst recognising that operational constraints may make it harder for Working Group Members and other interested parties to engage with us fully.  We will continue with our deliveries and keep the PSG and other interested parties updated regarding any unavoidable impact.

Standards Governance

Progress this Month

The PSG last met on 4 November 2020. The Focus Session looked at Criterion’s relaunched website, whilst the Plenary session discussed the Standards Programme, ongoing projects including Letter of Authority and support for JSON / OpenAPI message exchange, and forthcoming changes including support for 7-digit FCA numbers.

Full minutes are available on the Criterion website.

Future Milestones

Meetings for 2021

Wednesday, 3 February 2021

Wednesday, 12 May 2021

Wednesday, 18 August 2021

Wednesday, 3 November 2021

Equity Release Integration

Criterion has offered members of the Equity Release Working Group to provide Governance and Management of the Quotes and KFI Data Messaging Standard developed by IRESS as a Criterion Standards for the benefit of the Industry.

Progress this Month

Criterion has concluded an IP Transfer Agreement with IRESS so that the Quotes / KFI data integration designs created in the course of their Equity Release developments can be managed as an industry Standard.

Future Milestones

  • Complete a briefing with the IRESS team to facilitate Criterion’s understanding of the designs and underlying rationale.
  • Re-engage with lenders and other stakeholders regarding our approach to ongoing management.

Letter of Authority Standards Development

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

Progress this Month

  • Phase 1 – DC Pensions:  XML and CSV Standards published at Draft Final to Working Group. Work continues on JSON and API definition Standards.
  • Phase 2 – Investments: Further analysis of Investment-related data items, particularly charges. Progress continued with the Draft A XML and CSV MIGs and Schemas.

Future Milestones

  • December: Complete JSON and Open API Standards Development for Phase 1 DC Pensions.
  • Publish Investments BRD at Draft Final; complete and publish XML and CSV Standards for Investment Fulfilment Standards for review by Working Group.
  • Commence analysis on LoA Protection Fulfilment.

Occupation Codes List 2020 Update

Update of the Occupation Codes Standard used in quotations and new business processes.

Progress this Month

Completed review of the Occupation Code List and final list issued to Working Group. Discussions continued on the implementation approach for the v3 Occupations Code List 2020.

Future Milestones

  • December: Hold further meeting on the 16 December to review and agree the Implementation Approach for the v3.0 Occupations Code List 2020.

Deliverables/Documentation Published in November 2020

OCLUWG - Full_List_With_Changes - Published on 2 November 2020

Common Annuity Applications Research – Terms of Reference - Published on 11 November 2020

FCARefSchemaXNLexamples – Published on 18 November 2020

FCAReferenceCRsDetailedTechnicalSolution – Published on 18 November 2020


LoA DC Pensions Fulfilment Standards v1.0 Draft Final - Published on 17 November 2020

Provide Contributions Made Standards v1.0 Draft B – Published on 17 November 2020

Provide Fund Unit Holdings Standards v1.0 Draft B – Published on 17 November 2020