Working-from-home regulation not adding to regulatory burden
Few doubt the pandemic has changed for good the lives of the near half of the Luxembourg workforce who are able to work from home. The financial services regulator has clarified rules on governance, substance and security requirements for remote working.
Stricter governance rules for Lux banks, investment firms
Substantial governance-reform targets have been set for banks and investment firms by the CSSF. Some quick changes are required, but otherwise the regulator’s circular letter 20/759 seeks to drive long-term culture change on boards of directors regarding risk, diversity, and sustainability.