“The main purpose of them will be the secured framework required for the functioning of the financial sector,” Claude Marx, the CSSF’s director general, said during a video interview with Paperjam on 10 June.

The CSSF will distribute the new circular to the financial institutions it regulates in the coming weeks, he stated.

Marx said his agency’s own experience with telecommuting during the covid-19 pandemic was positive, but was cautious about over-generalising. “I’m keen on teleworking, but it’s something that, in a company, has to be structured.”

When the tightest virus restrictions were in place, about 98% of CSSF staff were teleworking. Marx said this week that 12% of its employees are now working at the regulator’s offices. Fifty more have been joining them each week. The CSSF has aimed for getting half its workforce, about 450 staffers, back at its HQ by the end of July.

Reported by Jean-Michel Lalieu; edited by Aaron Grunwald