5.1.9Compliance Reporting
SBM Offshore reports on significant fines paid by SBM Offshore and all affiliate companies.
To define a significant fine the following thresholds are considered (subject to final assessment by Management Board on a case by case basis):
- Operational fines of a regulatory and/or administrative nature which exceed US$ 500,000.
- Legal and compliance fines of a criminal nature which exceed US$ 50,000.
Non-monetary sanctions are reported on the basis of significant regulatory incidents.
