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Standards Updates August 2017

Please see below for the latest updates and progress on our Standards. If you'd like further information on anything identified below please contact Karen.

New Standards Holders in July/August 2017

SEI Investments (Europe) Ltd

PSFM Limited

Chase de Vere Independent Financial Advisers Ltd

PSG Update

The PSG last met by teleconference on 23rd August 2017.  The key points were that:

- the PSG agreed to recommend Candidate Plan 3 to the SAC as its preferred Origo Standards Programme following the Annual Prioritisation Exercise. This Candidate brings forward research into the impact on Annuity Quotes and New Business of PS17/12, as well as development of a Bulk Valuation Standard.

- the PSG agreed with the recommendations of the DFM Research project (see below), to deliver additional functionality to CE Valuation Standards via the BAU Change Management process.

- the PSG was actioned to provide feedback on the use of a teleconference to execute a Plenary Meeting. Feedback will be reviewed with the Group at its November meeting.

Full papers and Minutes from the meeting can be found on our website here:

The next PSG Meeting and PSG Focus Session will be held face-to-face on 9th November 2017 at Standard Life's offices in the City of London.

Standards Update

Medical Underwriting Lists


Criterion continues to pursue responses to the Waiver of Intellectual Property (IP) letter that was issued to organisations represented on the Annuity Providers Forum and the Underwriters Forum. Currently 6 signed Waiver of IP letters out of the 12 required have been received. The full set of completed letters will enable the Medical Underwriting Lists to be managed as part of the Standards Library.

Plans for September:

Continue to process the outstanding Waiver of IP letters and once all completed letters are received, start to manage the lists.

Transport Layer Security Digital Signing


Updates to the Security Solution Guidelines, to document that the TLSDS Research Project has proved that there is no alternative to using XAdES for eIDAS compliance, have begun.

Plans for September:

Complete the updates to the Security Solution Guidelines and publish when resource is available. Thereafter, no further activity is planned on this project.

Discretionary Fund Managers Research


The DFMR Problem Definition Report was published to the Research Group on 28th June 2017 and a teleconference call to discuss the Report has been held. The report was also issued to the PSG and briefly discussed at the PSG teleconference on 23rd August.

Plans for September:

Change Requests will be raised as per recommendations in the Report. These Change Requests will be added to the list for delivery through the BAU Change Management process.

Legal Framework General Data Protection Regulation


Hogan Lovells has been selected to undertake the LF GDPR work based on a combination of cost and experience with the current LF Agreements. Hogan Lovells has produced an LFGDPR Approach Document which will be discussed at a forthcoming teleconference.

Plans for September:

Discuss the Approach Document with the Working Group at a teleconference to be held on 6th September 2017 and thereafter finalise the Project Plan and commence initial drafting of the updated LF Agreements.


Documents Issued in July\August 2017

Asset Management Market Study - Published on 10th July 2017

Programme Plan Priorities 2017_18 - Published on 9th August 2017

CR PSG Report - Published on 16th August 2017

Discretionary Fund Managers Research Problem Definition Report - Updated and published on 24th July 2017

PSG Proposal - PS17_12 - Published on 21st August 2017

LFGDPR - Scope and Requirements Summary - Published on 25th August 2017

Hogan Lovells LFGDPR Approach Document - Published on 30th August 2017


Standards Delivered in August 2017

Contract Enquiry Endowment - v2.2 Provisional - Published on 15th August 2017
















Contract Enquiry WOL - v2.2 Provisional - Published on 15th August 2017















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