The CSSF is urging all financial sector workers to again work from home wherever possible. The new guidance comes after the Luxembourg government announced new restrictions to limit the spread of Covid-19 on Friday.
‘We are facing an unprecedented upsurge in coronavirus infections whose consequences cannot be measured at this stage’, the CSSF said in a press release. ‘The government indicated that the situation gives cause for concern during its press conference.’
The CSSF said it’s ‘essential’ that ‘the entities under the CSSF’s supervision contribute to prevent the propagation of the virus, while ensuring business continuity. We therefore ask you to use telework wherever possible.’
The new guidance comes as the downsides of teleworking are becoming ever more clear. In an interview with Investment Officer earlier this month, EY Luxembourg’s country managing partner Olivier Coekelbergs said teleworking has started to negatively affect productivity.