CSSF Telework Circular applicable as of 1 July 2022: are you ready?

On 31 March 2022, the CSSF confirmed that Circular 21/769 on “Governance and security requirements for supervised entities to perform tasks or activities through Telework” (“Telework Circular”) will apply as from 1 July 2022 in view of the government’s recent announcements removing the majority of the health restrictions adopted in the context of COVID-19. The Telework Circular was issued on 9 April 2021 with an effective date initially scheduled for 30 September 2021 but its entry into force was postponed due to the pandemic situation.

The Telework Circular sets out governance and security requirements with respect to the implementation and use by entities under the CSSF's supervision of work processes based on telework solutions. Its purpose is to promote a sound and prudent management contributing to the proper organisation of these entities and the preservation of information security by specifying the requirements they have to comply with. For more details, please refer to the article published on our website available under this link.

No CSSF approval will be required for implementing, maintaining or extending telework solutions for staff. However, covered entities having recourse to telework have to adopt a telework policy by 1 July 2022. In addition to respecting the principles of the Telework Circular relating to financial sector regulatory requirements, this policy must comply with mandatory public provisions, in particular the Luxembourg Labour Code, an exercise with which our teams are happy to assist.