[Luxembourg] Preparing for new CAA circular on teleworking

In Luxembourg, the Commissariat aux Assurances (CAA) has issued a new circular letter (23/10) that will affect how insurance and reinsurance companies operate from September 1, 2023. JD Supra offers employers an overview of its main points.

The circular sets out the CAA's expectations on teleworking by managers, key functions holders and other control functions, as well as on the use of electronic signatures. 

Teleworking

Maintain your central administration in Luxembourg, including daily managers, key function holders, support and control functions, in addition to administrative, accounting and IT functions to ensure correct administration of the entity.

Organisations must reportedly update teleworking policies to ensure that decision-making, administrative and control centres are based at head offices in Luxembourg. This means they must:

• Establish systems, such as teleworking internal policies that apply to managers and key function holders and guarantee that they work from head offices in Luxembourg the majority of the time.
• Record and document the presence of managers and key function holders at their head offices in Luxembourg, as well as their business trips abroad.
• Respect Luxembourg labour law, professional secrecy and data protection rules when organising teleworking.
• Ensure that daily manager(s) carries(y) out the bulk of his/her/their activities from offices in Luxembourg and where relevant, determine whether it would be useful to appoint a second daily manager to ensure effective decision-making in Luxembourg in case of absences.

JD Supra says the CAA may verify compliance with these rules during on and off-site inspections.

Companies must also have a clear in-house organisation of their use of electronic signatures in relation to official documents provided to the CAA and be able to justify the technical features of their electronic signature systems to the CAA. They should:

• Use “qualified electronic signature” for official documents signed by managers and sent to the CAA (if a wet-ink signature is not used).
• Fill in and send a questionnaire to the CAA within 30 days after the circular comes into force (i.e. by October 2, 2023) if electronic signatures are already in use.
• Fill in and send the same questionnaire to the CAA 30 days before commencing the use of electronic signatures if planning to do so in the future.
• Provide the CAA with any electronic signature procedures and updated documents listed in the questionnaire if requested.

JD Supra notes that the circular also provides a list of documents which the CAA expects the daily manager(s) to sign.

Employers are urged to observe the deadline and be prepared for the new CAA circular.

Source: JD Supra

In Luxembourg, the Commissariat aux Assurances (CAA) has issued a new circular letter (23/10) that will affect how insurance and reinsurance companies operate from September 1, 2023. JD Supra offers employers an overview of its main points.

The circular sets out the CAA's expectations on teleworking by managers, key functions holders and other control functions, as well as on the use of electronic signatures. 

Teleworking

Maintain your central administration in Luxembourg, including daily managers, key function holders, support and control functions, in addition to administrative, accounting and IT functions to ensure correct administration of the entity.

Organisations must reportedly update teleworking policies to ensure that decision-making, administrative and control centres are based at head offices in Luxembourg. This means they must:

• Establish systems, such as teleworking internal policies that apply to managers and key function holders and guarantee that they work from head offices in Luxembourg the majority of the time.
• Record and document the presence of managers and key function holders at their head offices in Luxembourg, as well as their business trips abroad.
• Respect Luxembourg labour law, professional secrecy and data protection rules when organising teleworking.
• Ensure that daily manager(s) carries(y) out the bulk of his/her/their activities from offices in Luxembourg and where relevant, determine whether it would be useful to appoint a second daily manager to ensure effective decision-making in Luxembourg in case of absences.

JD Supra says the CAA may verify compliance with these rules during on and off-site inspections.

Companies must also have a clear in-house organisation of their use of electronic signatures in relation to official documents provided to the CAA and be able to justify the technical features of their electronic signature systems to the CAA. They should:

• Use “qualified electronic signature” for official documents signed by managers and sent to the CAA (if a wet-ink signature is not used).
• Fill in and send a questionnaire to the CAA within 30 days after the circular comes into force (i.e. by October 2, 2023) if electronic signatures are already in use.
• Fill in and send the same questionnaire to the CAA 30 days before commencing the use of electronic signatures if planning to do so in the future.
• Provide the CAA with any electronic signature procedures and updated documents listed in the questionnaire if requested.

JD Supra notes that the circular also provides a list of documents which the CAA expects the daily manager(s) to sign.

Employers are urged to observe the deadline and be prepared for the new CAA circular.

Source: JD Supra