Luxembourg financial watchdog to expand into office next door
Luxembourg's financial regulator is expanding its office – by moving into the building next door.
The Commission de Surveillance du Secteur Financier (CSSF) will rent 56.25% of the Moonlight building on Route D'Arlon, a spokeswoman confirmed.
The watchdog, which has increased its staff numbers to around 800 civil servants to cope with a growing workload, is expected to move in at the beginning of 2019.
The Moonlight building, owned by developer Felix Giorgetti, was originally earmarked as a location for the European Banking Authority, which had to relocate from London to the continent following the Brexit vote.
However, Luxembourg failed in its bid to win the agency, which will instead move to Paris.
The 9,600 square metre building, adjacent to the CSSF's current home, is set over five floors and also includes a garden-level restaurant.