international employment law firm alliance L&E Global

Financial sector: New CSSF Circular on teleworking

The Commission de Surveillance du Secteur Financier (the “CSSF”) published on 9 April 2021 the CSSF-Circular 21/769 on Governance and security requirements for supervised entities to perform tasks or activities through telework. The Circular will enter into force on 30 September 2021.

The purpose of the Circular is to define the governance and security requirements with respect to the implementation and use of telework by an entity under the supervision of the CSSF.

The Circular specifies in particular the following points:

  • no approval by the CSSF is required in order to implement, maintain or extend telework for staff in a supervised entity;
  • this Circular is applicable under normal general working conditions and does not apply in case of a pandemic or other exceptional circumstances having a comparable impact on the general working conditions.

The Circular also reminds that the provisions of the Convention of Telework of 20 October 2020[1]must continue to be applied.

[1] Convention of 20 October 2020 on the legal framework for teleworking declared of general obligation by the Grand-Ducal Regulation of 22 January 2021(Mémorial A no. 76 of 29 January 2021).